The Hungarian Competition Office holds that long-term lease agreements may constitute a notifyable concentration (Accor)

Accor-Pannonia Hotels Zrt. (a Hungarian subsidiary of the group controlled by the French company Accor SA) requested the Hungarian Competition Office (HCO) to approve its acquisition of control over two hotels in Budapest (Hotel Taverna and Hotel Liget) (the Transaction). The Transaction was executed by signing two “lease agreements” on 28 September 2006 for the takeover of the rights to operate of these two hotels for a term of 20 years each (with a possibility for unilateral extension for a further 12 years) from a Hungarian company, Taverna Holding Zrt. At the outset, the HCO examined whether

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Authors

  • Oppenheim (Budapest)
  • Oppenheim (Budapest)

Quotation

Gábor Fejes, Zoltan Marosi, The Hungarian Competition Office holds that long-term lease agreements may constitute a notifyable concentration (Accor), 7 December 2006, e-Competitions Bulletin December 2006, Art. N° 13387

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