On 16 February, the Competition Authority was notified of the proposed acquisition by BBL 144 ehf. (hereinafter „BBL“) and Eldeyjar Holding ehf. (hereinafter „Eldey HoldCo“) and others in the share capital of Eldey TLH hf. Arcanum Fjallaleiðsögumönnum ehf. and Logakór ehf., pursuant to the attached merger document. BBL is a private limited company that was specifically established in connection with the transaction to acquire all the shares in Kynnisferðir and Eldey, as well as to acquire a minority stake directly in Arcanum and Logakór. The purpose of Eldey HoldCo is primarily to hold the shares in BBL following the transaction, but in addition, Eldey HoldCo will hold shares in Norðursiglingu hf. and certain bonds and other receivables against Eldey's existing subsidiaries. Eldey HoldCo is owned by five pension funds, Íslandsbanki hf., Íslensk fjárfesting ehf., and other investors who invested in the company through the private banking service of Íslandsbanki hf.
The Competition Authority has the task, under the Competition Act, of investigating mergers and must, in this regard, assess whether a merger of companies substantially impairs competition and thereby harms the interests of the public or the business community. When assessing the effects of mergers, the Competition Authority gathers information from parties which may, as appropriate, be customers or competitors of the merging parties, or be otherwise connected to the relevant markets.
The Competition Authority hereby provides those who consider themselves to have an interest in the merger with an opportunity to submit their views on it. Comments regarding the merger should be received no later than at 16:00 on 16 March. to the email address aldis.s.bjarnhedinsdottir@samkeppni.is.
Attached:
"*" indicates required fields
