The Competition Authority has been reviewing the merger of Atlantic Tank Storage ehf., Skeljungs hf. and Birgðarstöðvarinnar Miðsandi ehf. due to the joint control by Atlantic Tank Storage and Skeljungs of the latter company, which owns a storage facility in Hvalfjörður. The relevant market in the case was considered to be the rental of oil storage capacity in Iceland for the storage of oil for foreign customers who trade oil on international markets. The Competition Authority's assessment was that the merger would not have a detrimental effect on competition. Particular regard was had to the fact that the combined market share of the merger parties is such that the merger does not prevent effective competition in the defined market. The Competition Authority therefore saw no reason to take action regarding this merger under section 17 of the Competition Act.
