Merger of Akraborg ehf. and part of Ægir sjávarfang hf.

The Icelandic Competition Authority (ICA) has reviewed a merger between Akraborg ehf. and the factory previously run by Ægir sjávarfang hf. in Ólafsvík. Akraborg and Ægir sjávarfang are horizontal competitors and both undertakings operate in the same field. Both produce canned cod liver for human consumption. By this merger, Akraborg takes over control of operations of the factory previously run by Ægir sjávarfang in Ólafsvík but Ægir sjávarfang will still control the factory in Grindavík. 

After investigating the merger and assessing information it is clear that the merging undertakings have a considerable market share in the relevant markets. However, in this case, the conditions of use for the rules applying to a failing firm are fulfilled and therefore there is no intervention in the merger on behalf of the ICA.