Merger of Landsbréfa hf. and TF II slhf.

The Competition Authority has been considering a change of control in the venture capital fund TF II slhf. (hereinafter „TF II“). By an operating agreement dated 30 May 2023, Landsbréf hf. (hereinafter „Landsbréf“) took over as the fund's manager. The change of manager constituted a change of control in TF II and therefore a merger subject to notification.

The Competition Authority's investigation revealed that no concentration takes place in the relevant markets of the case following the merger.

The Competition Authority considered it necessary to impose conditions on the merger. The Competition Authority entered into a comprehensive settlement with Landsbréf in Decision 25/2023, which resolves the competitive concerns arising from this merger. Consequently, no further action is required in this matter.