On 18 February 2010 the Hungarian Competition Office (“HCO”) cleared the acquisition of a 0.01 per cent stake in Duna-Dráva Cement Kft. (“DDC”) by Schwenk Zement KG (“Schwenk”) from HeidelbergCement Central Europe East Holding BV (“Heidelberg”). DDC is a cement factory owned by Heidelberg and Schwenk. Before 23 December 2004, both owners had an equal ownership stake of 50 per cent in DDC. According to the business quota sale and purchase agreement concluded that on that date, Heidelberg acquired an additional 0.01 per cent of the business quotas in DDC, thus holding a total of 50.01 per cent of the business quotas. On 30 October 2009, the parties entered into an option agreement for the transfer of the business quota of 0.01 per cent back to Schwenk. Pursuant to the option agreement, Schwenk
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The Hungarian Competition Office clears concentration in the cement sector and interprets the legal definition of joint control (HeidelbergCement/Schwenk)
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