Acquisition of BM Vallá ehf. by BMV Holding ehf.

On 14 October 2011, the Competition Authority was notified of the proposed acquisition by BMV Holding ehf. of all the shares in B.M. Vallá ehf., which had been owned by Arion banki hf. for a time. The ownership group of BMV Holding consists of several companies and individuals, some of whom are connected to the markets in which B.M. Vallá operates, and the Competition Authority therefore considered that intervention was necessary for the merger to proceed. An agreement was reached with the merging parties on 6 March 2012 regarding conditions for the merger, which the Competition Authority considers sufficient to prevent the merger's harmful competitive effects.