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Merger of Eimskipafélag Íslands hf. and Sæferðir ehf.

Eimskipafélag Íslands hf. purchased all shares in Sæferðir ehf. and subsequently gained control of that undertaking. Sæferðir ehf. operate the passanger ferry Baldur. Eimskipafélag Íslands hf. is a international cargo shipping company which has subsidieries operation on the domestic transportation market as well as operating the passanger ferry Herjólfur. Parties to the merger operate in connected markets and it was therefore the assessment of the ICA that the merger would raise impediments to effective competition. Therefore the merging parties signed a settlement with the ICA and underwent certain commitments.