The acquisition by FISK Seafood ehf. of all shares in Soffanías Cecilsson hf.

The Competition Authority has been reviewing the merger between FISK Seafood ehf. and Soffaníasar Cecilssonar hf. FISK Seafood is owned by Kaupfélag Skagfirðinga hf. The merging parties are in the same line of business, although they operate from different locations. The merging parties' processing activities are also different, such that they effectively produce different products. FISK Seafood has primarily sold frozen and lightly salted fish, whereas Soffanías Cecilsson has sold salted fish. Both companies also hold a prawn quota. FISK Seafood processes the prawns it catches, whereas Soffanías Cecilsson sells its prawns for processing. The Competition Authority's investigation revealed that there is no reason to believe that concentration in individual sub-markets within the food production sector could be a basis for a breach of competition. Following an investigation, the Authority has concluded that there is no reason to take action regarding this merger under Article 17 of the Competition Act No. 44/2005.