The Hungarian Competition Office approves an acquisition in the food sector and rules on the interim control over the target company before its approval (Bonduelle Central Europe/Kelet-Food)

Background Bonduelle Central Europe Zöldségfeldolgozó Kft. (“BCE”) as the sole tenderer for the purchase of Kelet-Food 2000 Élelmiszeripari Kft. “f.a.” (“Kelet-Food”) including certain assets (factory buildings, equipment and other assets, etc) and the 100% business share of Corn Food Kukorica Feldolgozó és Kereskedelmi Kft. (“Corn Food”), a company wholly-owned by Kelet-Food signed the sales and purchase agreement on 22 February 2012. At the same time, BCE, Kelet-Food and Corn Food entered into a cooperation agreement concerning the “joint management” of Corn Food for a limited time. Although it is confidential and deleted from the public version of the decision, the wording of the following phrases and the reasoning of the HCO decision implies that the joint management is intended to be in effect

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Zsuzsanna Németh, The Hungarian Competition Office approves an acquisition in the food sector and rules on the interim control over the target company before its approval (Bonduelle Central Europe/Kelet-Food), 7 May 2012, e-Competitions May 2012, Art. N° 49213

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