US EditionHungary Blocks Sale of Local Dairy Company to Foreign Investor
9 Articles
9 Articles
They applied to buy the dairy giant back in the summer, but the government said the deal would have been dangerous for the Hungarian market.
Wednesday's broadcast of Portfolio Checklist is now available to listen to. In the first part of the program, we covered the situation of domestic milk production and processing in connection with the government's refusal to allow Alföldi Tej to fall into foreign hands. Our guest was Zoltán Harcz, executive director of the Milk Product Council. In the second part, we talked about the 19th sanctions package against Russia and the rapprochement be…
The Ministry of National Economy used a brutal Hungarian veto after a foreign investor would have acquired one of the largest Hungarian dairy processing companies, Alföldi Tej Kft. The government's immediate ban prevented the Greek-owned Olympos dairy group from acquiring a 100 percent stake in the Hungarian company, which caused a serious storm in the food industry.
Hungary blocks sale of local dairy company to foreign investor
The National Economy Ministry has prohibited the sale of Hungarian-owned dairy company Alföldi Tej to a foreign investor. In an announcement on Tuesday, the ministry said the transaction would pose “significant risk” to the security of food supply. It noted that Alföldi Tej accounts for close to 20pc of farm gate purchases of milk in Hungary. Under foreign ownership, local manufacturing output would fall as raw milk is exported and the price of …
The Hungarian Government has banned in March the purchase of Alfoldi Tej Kft milk company by a foreign company, calling for risks to the security of supply and national interests.
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