The European Commission has approved Auchan’s proposed acquisition of Magyar Hipermarket. The deal will help consolidate the two companies in several markets across the country, especially in the Budapest area. Magyar Hipermarket operates the Cora network in Hungary. Magyar and Auchan’s local unit both operate stores selling consumer goods.
The EC said the investigation found that the merged entity would continue to face competition from a number of other strong competitors and that customers would still have sufficient alternative suppliers in all markets concerned. Giving clearance to Auchan, the regulator said that the Hungarian retail market continues to attract new retailers and remains dynamic. (25 Apr) © 2012 ESM: European Supermarket Magazine
