The purchase of Ursus I slhf. shares in HS Veitur hf.

The Icelandic Competition Authority (ICA) has examined the purchase of Ursus I slhf. 34,38% shares in HS Veitur hf. HS Veitur is a corporation that has the purpose of owning and operating a distribution system for electricity and hot and cold water. HS Veitur operation is based on public consessions and exclusive licenses for such activities and does not operate in the competitive market. Ursus I is a venture capital fund owned by pension funds and other investors. The ICA came to the conclusion that there is no reason to interfere in this merger on the basis of Article 17 of the Competition Act.