The acquisition of Korputorg ehf. by Kristinn ehf.

The Icelandic Competition Authority (ICA) has reviewed the acquisition by Kristinn ehf. of Korputorg ehf. Kristinn ehf. owns shares in numerous companies, such as Ísfélag Vestmannaeyja hf., Kvos ehf., ÍSAM ehf. and Árvakur hf. These companies operate in various sector but not the same as Korputorg operates in. Korputorg is a real estate company and their only asset is Korputorg shopping center which is 45.550 square meters large. The merged entities plan that a part of the shopping center will be used for ÍSAM ehf. which is one of the largest suppliers for the Icelandic grocery market.

After investigating the merger and assessing information on the markets involved, the ICA deems it so that the merger will neither give rise to a dominant position or strengthen a dominant position in this case. The merger will not lead to disruption of competition in the relevant markets to an appreciable extent. Therefore, there is no intervention in the merger on behalf of the ICA.