Purchase by L1041 ehf. of the 40% shareholding in ST holding company ehf.

The Competition Authority has been considering the acquisition by L1041 ehf. of a 40% shareholding in ST Holding Company ehf. L1041 is the current owner of a 50% shareholding in ST Holding Company, which in turn holds a 100% shareholding in Steypustöðin ehf. According to the merger filing, L1041 has no actual operations; its sole purpose is to act as a holding company and to invest in shares. L1041 is owned by Mókoll ehf. The other shareholder in ST Holding Company is Bósi ehf. (hereinafter Bósi), which is owned by F6569 ehf. Bósi does not hold shares in any other companies. As a result of the merger, L1041 will hold a 90% shareholding in ST Holding Company and Bósi will hold a 10% shareholding. The investigation by the Competition Authority revealed that competition is not being significantly impaired, nor is a dominant position being created or strengthened. Following an investigation, the Authority has concluded that there is no reason to take action regarding this merger under Article 17 of the Competition Act No. 44/2005.