Festi’s Violation of conditions regarding the merger of N1 hf. and Festi hf

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• Case number: 28/2024
• Date: 29/11/2024
• Company:
  • N1 hf.
  • Festi hf.
• Sectors:
  • Consumer goods, supplies and etc.
• Policy Area:
  • Other
• Summary

  With a decision by the Icelandic Competition Authority, a settlement made with Festi hf. is explained. In the settlement, the company acknowledges, on the one hand, violations of commitments in a previous settlement in a merger case and, on the other hand, violations of competition law provisions regarding information disclosure during the Competition Authority's investigation into the same merger case. The company agrees to pay a fine of 750 million ISK for these violations, which the Competition Authority considers serious.