(Merger of Icelandic Tank Storage ehf., Birgðastöðin Miðsandi ehf. and the storage depot at Litli-Sandur

The Icelandic Competition Authority has examined the merger between Icelandic Tank Storage ehf., Birgðastöðin Miðsandi and the storage depot at Litli-Sandur in Hvalfjörður. Icelandic Tank Storage ehf. is a private limited holding company jointly owned by Atlantic Tank Storage ehf. and Olíudreifing ehf. Icelandic Tank Storage ehf.  operates storage depots both in Helguvík and in Keflavik Airport. Icelantic Tank Storage ehf. also leases the two storage depots, this merger regards,  for finished petroleum products in Hvalfjörður, and subleases them to foreign distributors of refined petroleum products. Olíubirgðastöðin Miðsandi ehf. is owned by Atlantic Tank Storage ehf. and owns one of the two storage depots in Hvalfjörður. Olíudreifing ehf. owns the other storage depot located at Litli-Sandur in Hvalfjörður. The storage depot at Litli-Sandur has been operated as an independent entity of the company. With the merger, Icelandic Tank Storage ehf. acquisits control of the two storage depots in Hvalfjörður. Through joint ownership of Icelandic Tank Storage ehf., Olíudreifing ehf. and Atlantic Tank Storage ehf. also acquire joint control over the two storage depots in Hvalfjörður. After its investigation the Icelandic Competition Authority concludes that there is not a reason to believe that the merger will cause appreciable harm to competition.  Consequently there is no reason to intervene in this merger on the basis of Article 17 c of the Icelandic Competition Act.