Merger of UK Investments Ltd, Kraftvéla Ltd, Kraftvélaleigan Ltd and BH Property Holdings Ltd.

The Competition Authority has been considering the merger of UK Investments Ltd, Kraftvélar Ltd, Kraftvélaleigunnar ehf. and BH eignarhaldsfélags ehf. UK fjárfestingar is an investment company which owns all the shares in six limited liability companies, three of which have subsidiaries. The companies are primarily engaged in the sale and leasing of vehicles, as well as the sale of vehicle components. Kraftvélar imports and sells construction machinery and spare parts, while Kraftvélaleigan rents out construction machinery. BH eignarhaldsfélag is a company that buys, sells and holds securities, real estate and liquid assets, in addition to engaging in lending activities. Through this merger, UK Investments will gain control of Kraftvélar, Kraftvélaraleigan and BH eignarhaldsfélag.

The evidence in the case does not suggest that the merger will prevent effective competition and for this reason, the Competition Authority concluded that no action should be taken in respect of the merger.