The acquisition of Jarðborunum hf. by Archer Norge AS and Kaldbaks ehf.

The Competition Authority has been reviewing the acquisition of Jarðboranir hf. by Archer Norge AS and Kaldbakur ehf. Archer Norge is a Norwegian company that provides services to the oil and gas industry in Norway. Kaldbak is an investment company owned by Samherji hf. Jarðboranir is engaged primarily in ground drilling related to the utilisation of underground resources for the production of renewable energy.

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 therefore does not result in the creation of a dominant position. Furthermore, it does not otherwise lead to a significant distortion of 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.