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Arion bank hf. takeover of TravelCo hf

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  • Case number: 31/2019
  • Date: 15/10/2019
  • Company:
    • Arion banki hf.
    • TravelCo hf.
  • Sectors:
    • Financial services
  • Policy Area:
    • Mergers
  • Summary

    The Icelandic Competition Authority (ICA) received a merger notification due Arion banki’s take-over of TravelCo and its subsidiaries. The take-over was considered to constitute a merger in the meaning of the Icelandic competition law Act of 44/2005.

    The ICA considered there to be cause for intervention in the form of a settlement, whose conditions are believed to mitigate any competition related problems resulting from the merger.