Some significant amendments to the Hungarian Competition Act have entered into force. The Hungarian Competition Authority (HCA) has been very active recently in various sectors. This summary briefly describes the most important changes. Some of the changes require an update to the compliance materials for Hungary.
Closing: PowerChina's Acquisition of Stake in Vetrozelena Wind Farm Now Closed
Kinstellar and Schoenherr have announced that PowerChina's acquisition of a 51% stake in the Vetrozelena wind farm from CWP Europe has now closed.
Baker McKenzie Successful for Minova Ekochem Before Polish Supreme Court
Baker McKenzie has successfully represented the interests of Minova Ekochem before the Supreme Court of Poland regarding a competition case.
Poland: New State Aid Instrument
The Polish government has presented detailed conditions and modalities for providing support to investment projects of strategic importance for the transition to a net-zero-emission economy. The new State aid instrument implements the EU programme “Temporary Crisis Framework for State Aid measures to support the economy following the aggression against Ukraine by Russia”. The new financial support is to be regarded as a further incentive effect to attract new investments to Poland.
ECJ Gives its Judgment in the Xella Case: Key Takeaways
In July 2023 the European Court of Justice (ECJ) gave its judgment in case no. C-106-22 (Xella Judgment). The case was referred by the Fővárosi Törvényszék (Budapest High Court, Hungary) for preliminary ruling on the interpretation of Article 65(1)(b) TFEU in conjunction with recitals 4 and 6 of Regulation (EU) 2019/452 (EU FDI Regulation) and Article 4(2) TEU.
Avellum Advises JSC Integrity Capital on Merger Control Clearance for Ocean Plaza Co-Owner Acquisition
Avellum has advised JSC Integrity Capital on obtaining the merger control clearance of the Antimonopoly Committee of Ukraine for its acquisition of shares in Lanita Invest – an indirect co-owner of the Ocean Plaza shopping and entertainment complex in Kyiv.
TGS Baltic Advises Lenoka on Competition Council Clearance for Retail Store Lease Acquisition
TGS Baltic has helped Lenoka obtain permission from the Competition Council to acquire the lease rights and open a Mego store at the Driksas 4 location in Jelgava – which was previously leased by Maxima Latvija.