German confectioner Stollwerck is no longer planning to sell its Hungarian unit Stollwerck Budapest Kft to branded food giant Kraft, according to a release from Kraft Foods Hungaria.

Kraft earlier said it would acquire Stollwerck's operations in Russia, Poland and Hungary. The US food giant went on to complete the acquisition of Stollwerck Russia and Poland once the respective competition authorities had given the green light.

With "several factors" standing in the way of the purchase in Hungary, however, both parties have agreed that it is better if the Stollwerck's Hungarian subsidiary is left out of the transaction.