Acquisition of Öryggismiðstöð Íslands hf. by L1234 ehf., Vex I slhf. et al.

This decision concerned the acquisition by L1234 ehf. of a 91.19% stake in Öryggismiðstöð Íslands hf., which constitutes a merger within the meaning of Article 17 of the Competition Act No. 44/2005. The merger was formally notified to the Competition Authority on 13 July 2023.

The Competition Authority's investigation revealed that this is a so-called merger by consolidation, where the merging parties do not operate in the same market. Therefore, no competitive effects arise from increased concentration or horizontal effects. Furthermore, there is nothing in the available evidence to suggest that the merger would lead to harmful vertical or conglomerate effects.

The Competition Authority has concluded that there is no indication the merger will prevent effective competition. For this reason, the Authority has determined that there is no basis for further investigation, nor is it necessary to take any action regarding this merger.