EU Clears Auchan Takeover Of Cora In Hungary
- 24 Apr 2012 9:00 AM
The EU's competition office has approved Auchan's takeover of the seven Cora hypermarket units in Hungary. The Commission found that the transaction does not significantly hinder competition as Auchan will face strong rivalry after the merger from several other competitors.
Auchan announced late last year plans to buy Cora’s Hungary units from Belgium’s Louis Delhaize group.
CBA has also expressed interest in buying the Cora units, but is now eyeing the other two chains owned by the Louis Delhaize group, Match and Profi.
Consolidation of the retail market is expected to continue, Napi Gazdasag writes.
Source: Hungary Around the Clock
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