The Hungarian Competition Office clears the acquisition of de facto control over chemical producer (MOL/TVK)

The Hungarian Competition Office (HCO) launched an investigation at the request of Hungarian Oil & Gas Company Plc</em< (MOL) to assess whether MOL's acquisition of de facto control over Tiszai Vegyi Kombinát Rt.</em< (TVK) is permissible. MOL, a company listed in the Budapest Stock Exchange, is Hungary's only undertaking active in the petroleum industry. At the time of the investigation, it manufactured and distributed various oil refinery products and natural gas as well as chemical products such as propylene, and MCB, a substance used for soot production. MOL jointly controls Slovnaft a.s., a Slovak oil company that also distributes ethylene, propylene and polyolefins. TVK, also listed on the Budapest Stock Exchange, is the largest chemical producer in Hungary. It

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Authors

  • Lakatos, Köves & Partners (Budapest)
  • Lakatos, Köves & Partners (Budapest)

Quotation

Ádám Máttyus, Eszter Ritter, The Hungarian Competition Office clears the acquisition of de facto control over chemical producer (MOL/TVK), 7 November 2001, e-Competitions November 2001, Art. N° 21357

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