CZECHOSLOVAK GROUP a.s. acquires 49% stakes in Hirtenberger and Rába in Hungary; no competition concerns, may stimulate competition

CZECHOSLOVAK GROUP a.s. acquires 49% stakes in Hirtenberger and Rába in Hungary; no competition concerns, may stimulate competition

Bundeskartellamt - Homepage - CZECHOSLOVAK GROUP can acquire two Hungarian groups of companies

CZECHOSLOVAK GROUP can acquire two Hungarian groups of companies

The Bundeskartellamt has today cleared the acquisition of 49 per cent of the shares in the Hirtenberger Group, Várpalota, Hungary, and the indirect acquisition of 49 per cent of the shares in the Rába Group, Budapest, Hungary, by CZECHOSLOVAK GROUP a.s. , Prague, Czech Republic (“ CSG ”).

CSG is an international defence and industrial group active in the defence, automotive, aerospace, space and industrial technology industries. Its product portfolio includes heavy-duty vehicles. CSG ’s beneficial owner is the Czech entrepreneur Michal Strnad.

The Hirtenberger Group manufactures mortar systems and mortar ammunitions. The Rába Group manufactures vehicle components and, in the defence sector, armoured personnel carriers, and provides maintenance, repair and servicing services for military vehicles.

Andreas Mundt, President of the Bundeskartellamt: “There is hardly any overlap between the product portfolios of the acquirer and the two target companies; rather, they complement each other. The merger is expected to create certain synergies, for example in vehicle manufacturing. However, given the presence of strong competitors, this does not raise any competition concerns. Quite the contrary: the merger could even stimulate competition.”