Merger of Vinnslustöðin hf. and Útgerðarfélagið Glófaxi ehf.

• Get document
• Case number: 33/2017
• Date: 20/10/2017
• Company:
  • Vinnslustöðin hf.
  • Útgerðarfélagið Glófaxi ehf.
• Sectors:
  • Consumer goods, supplies and etc.
• Policy Area:
  • Mergers
• Summary

  The Icelandic Competition Authority (ICA) has examined the merger between Vinnslustöðin hf. and Glófaxi ehf. These companies are seafood companies active in fishing and seafood production. Vinnslustöðin hf. is one of the largest fishing companies in Iceland and its fleet consists of seven fishing vessels and land based production facilities. Glófaxi operates a single fishing vessel, both companies operate from Vestmannaeyjar. After the merger the merged entity will have less than 5% of the total fishing quota in Iceland.

  This merger is thus a horizontal merger where Vinnslustöðin hf. purchases all the shares in Glófaxi ehf. After investigating the merger, the ICA deems that the merger will not lead to disruption of competition in the markets of the case. Therefore, there is no reason to intervene in this merger on the basis of Article 17 of the Icelandic competition act.