Purchase by SMI ehf. of all shares in Korputorg ehf.

The Competition Authority has been reviewing the acquisition of Korputorg ehf. by SMI ehf. This is a horizontal merger in the market for the leasing of commercial premises to unrelated parties in the capital region. Following the merger, SMI ehf.'s property portfolio will be approximately 51,000 square metres of commercial property, and the merged entity's market share will be negligible.

 Following an investigation and having regard to the evidence, the Competition Authority is of the opinion that the merger does not prevent effective competition and will not result in the creation of a dominant position. Furthermore, it will not otherwise significantly distort competition in the market. Therefore, there are no grounds to take action regarding the merger under Article 17(c) of the Competition Act No. 44/2005.