The acquisition by Akraborg hf. of part of the operations and assets of Ægir Seafood hf.

The Competition Authority has been reviewing the merger of Akraborg ehf. and the operations of Ægir sjávarfang hf. in Ólafsvík. Akraborg and Ægir sjávarfang are horizontal competitors and both companies are engaged in the same activity, namely buying cod livers, boiling them down and selling them, mainly abroad, for human consumption. With this merger, Akraborg takes over the operations of Ægis sjávarfang in Ólafsvík, while the operations of Ægis sjávarfang in Grindavík will remain.

It is clear from the evidence in the case that the merging parties hold a large share of the relevant market. However, given that the conditions for applying the dying company exception are met in this case, there are no grounds for taking action regarding the merger.