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Change of control of Arcanum ferðaþjónusta ehf.

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  • Case number: 44/2017
  • Date: 13/12/2017
  • Company:
    • Arcanum ferðaþjónusta ehf.
    • Eldey TLH hf.
  • Sectors:
    • Transport and travel affairs
  • Policy Area:
    • Mergers
  • Summary

    The Icelandic Competition Authority (ICA) has reviewed the merger resulting in change of control over Arcanum ferðaþjónusta ehf. Arcanum is a travel organizer offering activities for tourists. Eldey TLH hf., after the merger, has control of Arcanum. Eldey is a private equity fund that invests in tourism and is owned by, amongst other Íslandsbanki hf. The ICA's investigation has found that this case does not lead to a dominant position in the market not creates such a position. Remedies have been imposed, they are intended to secure the independence of the aforementioned undertakings toward Íslandsbanki. The remedies prohibit the merging parties from giving confidential information to shareholders who own shares in more than one competitor in the relevant market. Afte investigating the merger the ICA has concluded that the remedies imposed will solve the problems relating to competition that would otherwise have materialized following the merger.