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Merger of Frjó Quatro ehf. and Umbúðasalan ehf.

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  • Case number: 30/2013
  • Date: 16/12/2013
  • Company:
    • Frjó Quatro ehf.
    • Umbúðasalan ehf.
  • Sectors:
    • Consumer goods, supplies and etc.
  • Policy Area:
    • Mergers
  • Summary

    The Icelandic Competition Authority received a merger notification on the 15th of October 2013, notifying a merger between Frjó Quatro ehf. and Umbúðasalan ehf. Frjó Quatro ehf. is a wholesale business that sells packaging, machines, mechanical equipment and agricultural products. Umbúðasalan ehf. sells packaging to undertakings operating in the fishing industry. The Competition Authority did not intervene in the merger. During the investigation of the merger case it was discovered that the merger parties had executed the merger before it had been reviewed by the ICA. This constitutes a breach of the Competition Act. Negotiations between the merger parties and the ICA have led to a settlement in the case. Frjó and Umbúðasalan acknowledge their violation against the provision of the Competition Act that prohibits execution of merger while it is being investigated by the ICA. By the settlement, the parties agreed to pay 100.000 ISK. in an administrative fine for this breach of the Competition Act.