The acquisition for Hagavagnar hf., Hópbílar hf and Hvaleyri hf. by Horn III slhf.

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• Case number: 28/2016
• Date: 27/10/2016
• Company:
  • Horn III slhf.
  • Hagavagnar hf.
  • Hópbílar hf.
  • Hvaleyri hf.
• Sectors:
  • Transport and travel affairs
• Policy Area:
  • Mergers
• Summary

  The Icelandic Competition Authority (ICA) has examined Horn III slhf‘s acquisition of all shares in Hagvagnar hf., Hópbílar hf. and Hvaleyri hf. These companies operate coaches under the brand of Hópbílar. Horn III is a private equity fund that invests in equity and other financial instruments. The fund is operated by Landsbréf hf., which is a subsidiary of Landsbankinn hf. ICA‘s investigation has shown that no concentration will occur in the relevant market. Remedies have been imposed that are intended to secure the independence of the aforementioned companies towards Landsbankinn. Moreover, the remedies prohibit the merging parties to give confidential information to shareholders that own shares in more than one company in the market. After an investigation the ICA concludes that these remedies will solve the competition problems that woulds otherwise have materialies following this merger.