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Case number:


Type of case:


Undertaking(s) concerned:

Wallis Asset Management Zrt. (Wallis Zrt.) and NAV-Invest Kft. (NAV-Invest)

Short description:

Wallis Zrt is one of the 116 undertakings that belong to the Wallis undertaking-group, pursues a wide range of activities and has previously possessed 49% of the shares of NAV-Invest. Wallis Zrt acquired the remaining 51% of the shares from Marivaux Investment Ltd, while NAV-Invest still operates controlling and holding functions as a subsidiary of Wallis Zrt.It is beyond question that Wallis Zrt provides a massive investor background for NAV-Invest, but on the one hand, NAV-Invest has already possessed the above-mentioned background prior to the concentration, and on the other hand, other competitors also bear a background that is well capitalized.Taking into account all the circumstances, the GVH came to the conclusion that the proposed concentration would not result in harmful effects on the markets concerned.


The GVH did not find objectionable the proposed concentration of Wallis Asset Management Zrt. (Wallis Zrt.) and NAV-Invest Kft. (NAV-Invest).


Budapest, 17 September 2010

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