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Íslandsbanki hf. takeover of Höfðatorg ehf. Intervention

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  • Case number: 22/2012
  • Date: 8/10/2012
  • Company:
    • Íslandsbanki hf.
    • Höfðatorg ehf.
  • Sectors:
    • Specialist service and other services
  • Policy Area:
    • Mergers
  • Summary

    Íslandsbanki hf. (commercial bank) has acquired Höfðatorg ehf. Höfðatorg is a real estate company and its main operations are renting out real estate. After its investigation it is the ICA's assessment that the merger will interfere with competition in the market and therefore conditions were imposed in order to limit the harming effects of the merger on competition. The conditions aim towards limiting the effects that can come as a result of the bank's ownership of undertakings and Íslandsbanki has agreed to the terms of these conditions.