Purchase by Horns III Ltd. of all shares in Hagvagnar hf., Hópbílar hf. and Hvaler hf.

The Competition Authority has been reviewing the acquisition by Horn III Ltd of all the shares in Hagvagnar Ltd, Hópbílar Ltd and Hvaler hf. The main business of these companies is the operation of coaches under the Hópbílar brand. Horn III's activities consist of investments in shares and other financial instruments, lending activities related to investments, and related operations. The company is an investment fund established by Landsbréf hf., a subsidiary of Landsbankinn hf. The Competition Authority's investigation revealed that no concentration occurs in the defined market of this case following the merger. Conditions have been imposed in the case which are intended to ensure the competitive independence of the aforementioned companies vis-à-vis Landsbankinn. The conditions also stipulate the specific handling of information with regard to those parties who hold shares in more than one company in the market.  Following an investigation, the competition authority has concluded that the conditions in question will remedy the competition concerns that would otherwise have arisen from the merger.