Reginn and Eik merger – settlement talks, request for views

The Competition Authority has
The takeover of Eik Fasteignafélag hf. by Reginn hf. has recently been under investigation. Earlier
In the case, the supervisory authority issued an objection document regarding the harmful effects of the merger, where
With everything else unchanged, intervention would be necessary regarding the transaction. Subsequently, Reginn requested
pending settlement talks with the Competition Authority, which are currently underway. 

Reginn hf. has submitted
Proposals for conditions for a possible settlement:

• Summary of the proposals of Reginn hf. and the main issues
  are detailed here 
• Draft settlement and terms of Reginn hf., without confidential information
  are here 

When merger parties submit
Proposals for changes or conditions in light of the competition authorities' preliminary assessment
A so-called market test is usually carried out on the person concerned.
proposals. Market testing involves, among other things, presenting the relevant parties with the proposals.
proposals and sought their views.

The Competition Authority has sent
Send letters to the main market players, requesting their views and answers on related matters.
the settlement proposals. The letter contains substantially the same as the summary.

All parties are hereby
given the opportunity to submit views on Reginn hf.'s settlement proposals. The Competition Authority specifically refers to
coverage in the summary of the association's proposals for measures to eliminate the negative
the effects of the merger on competition. Views and specific comments are requested.
on the issues and questions outlined in the summary.

As there is a short time left
in the merger matter of Reginn hf. and Eik fasteignafélag hf., the deadline to
to present viewpoints up to and including on Monday, 29th April. and
they shall be submitted on gogn@samkeppni.is marked
Reginn and Eik – market test.

It should be emphasised that it is a preliminary assessment.
The competition authority in the matter outlined in the document above may take
amendments in light of the views of the merging parties and other views
which may be received in the current market testing, if there are grounds for it and
information. Then Reginn, as previously stated, has requested conciliation talks in
in the matter, the Competition Authority agrees to such discussions, and the company has submitted
settlement proposals. The outcome of the matter therefore depends, on the one hand, on what the final
The assessment by the Competition Authority of the takeover's competitive effects will be based on
in light of the available evidence, and, on the other hand, the parties' desire to give effect to the merger
Conditions aimed at ensuring effective competition and the interests of customers
and the public of competition in the letting of commercial premises.