Acquisition by IC 1 ehf. of Steinsteypan ehf

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• Case number: 18/2024
• Date: 1/7/2024
• Company:
  • Ísafold Capital Partners hf.
  • IC 1 ehf.
  • Steinsteypan ehf.
• Sectors:
  • Consumer goods, supplies and etc.
• Policy Area:
  • Mergers
• Summary

  The ICA cleared an acquisition by IC 1 ehf. of Steinsteypunni ehf. on the market for production and sale of concrete. 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.