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Acquisition by Stefnir hf., SRE III. of Heimstaden ehf

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  • Case number: 6/2024
  • Date: 3/4/2024
  • Company:
    • Arion banki hf.
    • Stefnir hf.
    • Heimstaden ehf.
    • SRE III ehf.
  • Sectors:
    • Specialist service and other services
  • Policy Area:
    • Mergers
  • Summary
    The ICA cleared an acquisition by SRE III ehf. of Heimstaden ehf. in market for renting residential real estate. The undertakings operate on different markets. The ICA‘s investigation has shown that the merger does not create a dominant position nor strengthens such a position in the relevant market, although remedies have been imposed, in cooperation with the merging parties, that are intended to secure the independence of the aforementioned undertakings toward Arion banki hf. After investigating the merger the ICA has concluded that the remedies imposed will solve the problems relating to competition that would otherwise have materialised following the merger.