Arion bank hf. takeover of TravelCo hf

The Icelandic Competition Authority (ICA) received a merger notification due Arion banki’s take-over of TravelCo and its subsidiaries. The take-over was considered to constitute a merger in the meaning of the Icelandic competition law Act of 44/2005.

The ICA considered there to be cause for intervention in the form of a settlement, whose conditions are believed to mitigate any competition related problems resulting from the merger.