Purchase by Pac1501 ehf. of part of the operations of Allrahanda GL ehf.

Through the merger, Pac1501 acquires part of the operations of Allrahanda GL. The merger document states that Pac is an investment and holding company that owns shares in subsidiaries and associate companies engaged in passenger transport, travel agency operations and related activities in Iceland. Pac is 100% owned by Horn III Ltd., which is a specialised private equity fund. 

Pac1501 is the owner, among other things, of RSS, Airport Direct, Hagvagna, Hópbíla and others. Allrahanda is described by the merger partners as a travel service company, but its operations consist primarily of the hire of coach vehicles. Allrahanda is licensed for travel arrangements and organises tours which its subsidiary, GL Iceland, sells, as well as providing transport services. The merger party is licensed to use the Greyline brand. The Competition Authority concluded that there is no need or basis to intervene in the merger.