By Lucia Osborne-Crowley (February 21, 2022, 6:06 PM GMT) — The European Fee stated on Monday that Hungary violated the bloc’s competitors legislation when it blocked the acquisition by Vienna Insurance coverage of the Hungarian subsidiaries of the Aegon Group.
The European Union’s govt arm stated it present in an investigation that Hungary breached EU merger rules when it vetoed a deal between Vienna Insurance coverage Group AG Wiener Versicherung Gruppe and the Hungarian arm of Dutch insurer Aegon NV.
The fee ordered Hungary to withdraw its ban on the deal by March 18 or face an infringement process earlier than the European Court docket of Justice.
The sale — a part of a broader deal…
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