Merger of Íslandsbanki hf. and Frumherji hf.

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• Case number: 18/2014
• Date: 1/7/2014
• Company:
  • Frumherji hf.
  • Íslandsbanki hf.
• Sectors:
  • Specialist service and other services
• Policy Area:
  • Mergers
• Summary

  The Icelandic Competition Authority received a merger notification regarding the merger of Íslandsbanki hf. (a universal bank in Iceland) and Frumherji hf. (a leading company in inspections, testing and legal metrology in Iceland). The Icelandic Competition Authority deemed the merger possibly damaging to competition and conditions were necessary to prevent such damage. A settlement was made between Íslandsbanki and The Icelandic Competition Authority regarding conditions for the merger.