Merger of Penninn ehf. and H-Fasteignir ehf.

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• Case number: 16/2018
• Date: 22/5/2018
• Company:
  • Penninn ehf.
  • Reitir fasteignafélag hf.
• Sectors:

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• Policy Area:

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• Summary

  The Icelandic Competition Authority has examined the acquisition by Penninn ehf. of H-Fasteignir ehf. Penninn is a company that operates 16 stores across the country under the brand name Penninn Eymundsson. In addition, Penninn operates two souviner shoups under the brand name Islandia. H-Fasteignir is a real estate company but in 2018 the company took over the company Hóras. H-Fasteignir now operates four souvenir shops under the brand name The Viking. After an investigation the Icelandic Competition Authority concludes that there is not a reason to believe that the merger will neither give rise to a dominant position nor strengthen of a dominant position in any market. The merger is not considered liable to cause appreciable harm to competition in other ways. Therefore, there is no reason to intervene in this merger og the basis of Article 17 c of the Icelandic Competition Act no. 44/2005.