With Decision no. 28/2022 A position is taken on the acquisition by Síldarvinnslan of all shares in the shipping company Vísir, which constitutes a merger for the purposes of competition law. The conclusion of the investigation is that there are no grounds for intervention in the matter.
In previous decisions of the Competition Authority concerning Síldarvinnslan, the Authority has obtained information and views on Síldarvinnslunnar's connections with Samherji hf. and Gjögur hf./Kjálkanes ehf., as this is relevant to the resolution of merger cases. Investigations have revealed significant management, ownership and commercial links between the aforementioned parties, which suggest that control of Síldarvinnslan has been established to a greater extent than has previously been reported in merger notifications.
The information available in this merger case continues to indicate ownership, management and business links between Síldarvinnslan, Samherji and Gögur/Kjálkanes. For this reason, the competitive effects of the merger were examined from two perspectives, namely, on the one hand, based on the merger as notified to the authorities, and on the other hand, based on a possible joint control by Samherji and its affiliated companies over Síldarvinnslan.
The Competition Authority has concluded that there are no grounds for intervention, whether with regard to the narrower or broader dominance. Thus, there are no grounds to suggest that a dominant market position is being created or strengthened, and furthermore, the change in concentration resulting from the acquisition of Vísi falls below the thresholds used in European competition law. Furthermore, the available evidence does not indicate that competition will be otherwise impaired.
The decision discusses the interaction between competition law and the provisions on the maximum allowable share in the Fisheries Management Act (section 1.1). It also draws attention to the fact that dominance is not defined in the same way in the two Acts.
It is the task of the Fisheries Administration to ensure that the provisions of the Fisheries Management Act concerning the maximum quota share are complied with. It is established in the case that the combined parties' quota share may exceed the maximum share in accordance with the Fisheries Management Act, whether based on the control asserted by the combined parties in the merger notification or on potentially broader control. The assessment and potential resolution of this matter will be the responsibility of the Fisheries Directorate. In connection with the case, the Competition Authority has met with the Fisheries Directorate and informed it of indications of more extensive control. The Competition Authority will provide the Fisheries Directorate with further information, if deemed necessary.
This decision does not constitute a final determination regarding the control of Síldarvinnslan for the purposes of competition law. These matters may therefore be subject to further investigation at a later stage. Before the merger investigation began, the Competition Authority also announced a decision to launch a comprehensive review of the management and ownership structures of fisheries companies, as It appeared in a news story on the regulator's website. from 5 October 2022.
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