Regin hf.'s acqusition of Bréfabær ehf. Fjárvari ehf. and Sævarhöfði 2 ehf.

The Icelandic Competition Authority (ICA) has reviewed a merger announcement regarding Regin hf.'s acquisition of Bréfabær ehf., Fjárvari ehf. and Sævarhöfði 2 ehf. All the undertakings operate in real estate leasing and Regin is one of the three largest undertakings in this market. Its largest properties are the shopping centre Smáralind and the sports- and entertainmentcentre Egilshöll as well as a number of retail and office space properties. The other merging entities are owners of industrial real estates and storing facilities in limited competition with Regin's properties due to different portfolio of real estates.

Regin is not considered to be dominant in the market and the merger will not give rise to a dominant position. After its investigation it is the ICA's assessment that the merger will not in another way result in a significant distortion of competition in the market. Therefore, there is no reason to intervene in this merger on the basis of Article 17 c of the Icelandic Competition Act no. 44/2005.