Merger of Veritas Capital ehf. and Gengur vel ehf.

The Icelandic Competition Authority (ICA) has reviewed a merger between Veritas Capital ehf. and Gengur vel ehf. Veritas Capital ehf. purchased all shares in Gengur vel ehf. and subsequently gained control of that undertaking. Parties to the merger operate in connected markets, mainly import and supply in wholesale health products, although not the same markets. It was the conclusion of the ICA that there was no reason to intervene in the merger on the basis of Article 17 c of the Icelandic Competition Act no. 44/2005.