Purchase of Eldum rétt ehf. by Basko ehf.

The Competition Authority
has been considering the purchase by Basko ehf. of a fifty per cent stake in Eldum rétt ehf. Basko is
a holding company owned by Horns III Ltd., Arni Petur Jonsson, Station ehf. and
Borgarhólma ehf. The company holds equity stakes in several companies in
in retail and catering, and its registered purpose according to its articles of association
the company's retail and catering operations, property management, property operations,
investments in companies with related activities, lending activities, import and
export, purchase and sale of assets and other related operations. The main companies are
Under Basko's control are Basko verslanir ehf., which is primarily engaged in
Operating retail chains in the grocery market under the 10-11 brand.
and Iceland. Eldum Rétt is an online shop that specialises in the sale and distribution of meal packages.
which are prepared for cooking at home.

To
In a previous investigation and in light of the evidence in the case, it is the assessment
The Competition Authority that the merger does not hinder effective competition and does not lead to
to the formation of a dominant market position. It does not then lead to competition
that the market is otherwise significantly disrupted. Therefore, there are no grounds
to take action regarding the merger on the basis of Article 17(c) of the Competition Act No. 44/2005.