Merger of Lýsi hf. and Akraborg ehf.

The Competition Authority has reviewed the acquisition by Lýsi hf. of a majority of the shares of Akraborg ehf. Following the acquisition Lýsi will control the operation of Akraborg within the meaning of the Icelandic Competition Act no. 44/2005. Lýsi is an undertaking that processes fish-liver oils (e.g. cod liver oil) and other products from mostly demersal fish. Akraborg is an undertaking that mainly produces canned cod liver for human consumption. Both undertakings use fish-liver in their production and for that reason the market for acquiring ingredients for the production was the main concern in the case. The Competition Authority gathered information and comments from different stakeholders, including competitors of the merging parties and costumers. Some stakeholders expressed concerns that the acquisition might impede competition. However the Competition Authority came to the conclusion following the investigation that preconditions for intervening were not met.