Merger of Síldarvinnslan hf. and Vísir hf.

Decision No. 28/2022 concerns the acquisition by Síldarvinnslan of all shares in the fishing company Vísir, which constitutes a merger within the meaning of competition law. The investigation concluded that there are no grounds for intervention in the matter.

In previous decisions of the Competition Authority concerning Síldarvinnslan, the Authority has obtained information and views on Síldarvinnslunnar's connections with Samherji hf. and Gjögur hf. / Kjálkanes ehf., as this is relevant to the resolution of merger cases.

The information available in this merger case continues to indicate ownership, management and business links between Síldarvinnslan, Samherji and Gögur/Kjálkanes. For this reason, the competitive effects of the merger were examined from two perspectives, namely, on the one hand, based on the merger as notified to the authorities, and on the other hand, based on a possible joint control by Samherji and its affiliated companies over Síldarvinnslan.

The Competition Authority has concluded that there are no grounds for intervention, whether with regard to the narrower or broader dominance. Therefore, there are no grounds to suggest that a dominant position is being created or strengthened.

The decision discusses the interaction between competition law and provisions on the maximum quota share in the Fisheries Management Act. Including drawing attention to the fact that 'control' is not defined in the same way in the two acts. It is the task of the Icelandic Fisheries Administration to ensure compliance with the provisions of the Fisheries Management Act concerning maximum quota shares. The assessment and potential resolution of this matter will be the responsibility of the Icelandic Fisheries Administration. In connection with the case, the Competition Authority has met with the Icelandic Fisheries Administration and informed it of indications of wider dominance. The Competition Authority will provide the Icelandic Fisheries Administration with further information, if deemed necessary.

This decision does not constitute a final determination regarding control of Síldarvinnslan for the purposes of competition law. These matters may therefore be subject to further investigation at a later stage.