Photo: WDnet Creation / Shutterstock
Biery Investments Zrt. – a company owned by billionaire entrepreneur Dániel Jellinek – has received approval from the Hungarian Competition Authority, GVH for the takeover of the Auchan hypermarket chain in Hungary.
This removes the last obstacle to Jellinek’s acquisition of a majority stake in the Hungarian subsidiary of the French retail chain, Auchan Hungary Kft.
The negotiations between Auchan Hungary and Biery Investments Zrt. took three years.
Over the next five to six years, Auchan is set to become the third-largest player on the domestic market – just behind Lidl and Spar, but ahead of Penny, Aldi, CBA, Coop and even Tesco.