Acquisition by L1234 ehf., Vex I slhf. and others of Öryggismiðstöð Íslands hf.

• Get document
• Case number: 31/2023
• Date: 17/8/2023
• Company:
  • Öryggismiðstöð Íslands hf.
  • L1234 ehf.
  • Vex l slhf.
  • VPE-ÖR ehf.
  • Feier ehf.
  • Laugarfell ehf.
• Sectors:
  • Specialist service and other services
• Policy Area:
  • Mergers
• Summary

  With this decision, a position was taken on the purchase of L1234 ehf. and others of a 91.19% share in Öryggismiðstöð Íslands hf. but the purchase constitutes a merger within the meaning of Article 17. of the Competition Act no. 44/2005. The merger was officially notified to the Icelandic Competition Authority (ICA) on 13 July 2023.

  The investigation by the ICA revealed that it is a so-called conglomerate merger where the parties to the merger do not operate in the same market. Competitive effects are therefore not created due to increased concentration or horizontal effects. In the opinion of the ICA there is nothing in the available data that suggest that the merger will have harmful vertical or conglomerate effects.

  It is the conclusion of the Competition Authority that there is no evidence that the merger will hinder effective competition. For that reason, it is the ICA‘s conclusion that there is no reason for further investigation nor is it necessary to take action due to this merger.