Purchase by Horns IV Ltd of 221,000,000 shares in S4S Ltd

The Competition Authority has been considering the acquisition by Horn IV slhf. of a stake in S4S ehf., which operates shops in Iceland selling clothing, shoes, and sports and leisure equipment. Horn IV is a specialised private equity fund (e.g. private equity fund) which is managed by Landsbréf hf., a subsidiary of Landsbankinn hf. The fund is a joint-stock company operated as a closed-end fund with around 30 professional investors as shareholders. The Competition Authority's investigation revealed that no concentration occurs in the relevant markets in question following the merger. Conditions have been imposed in the case and, following an investigation, the authority's conclusion is that the said conditions will remedy the competition concerns that would otherwise have arisen from the merger.