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Merger of Eik Fasteignafélag hf. and SMI hf.

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  • Case number: 32/2013
  • Date: 18/12/2013
  • Company:
    • Eik fasteignafélag hf.
    • SMI hf.
  • Sectors:
    • Specialist service and other services
  • Policy Area:
    • Mergers
  • Summary

    On 3. September 2013 the Competition Authority received a letter announcing that Eik Fasteignafélag hf. had acquired the majority of properties owned by SMI hf. Both of these companies are real estate companies. Under Article 17 of the Competition Act a merger has occurred when a change of control has taken place on a permanent basis, including when a company gains control of a part another company by purchasing its assets, cf. section c, paragraph 1 of Article 17. The Competition Authority considers that the acquisition by Eik Fasteignafélag hf. of specified properties of SMI hf. constitutes a merger within the meaning of Article 17 of the Competition Act. The Competition Authority has assessed the merger and decided to authorise it without intervention.