Today, on 19 September 2019, the Competition Authority granted an exemption from the prohibition that the merger resulting from Skeljungur hf.’s purchase of the entire issued share capital in Basko ehf. may not take effect while the merger is being reviewed by the Competition Authority, with reference to Article 17(4) a of the Competition Act.

The exemption permits the implementation of the merger, with the following conditions:

  1. No measures will be taken which prevent the unwinding of the merger, should it be the ultimate conclusion of the Competition Authority that the merger is likely to prevent competition.
  2. Measures shall be taken to ensure that sensitive business information will not be communicated between the parties to the merger. Parties to the merger are currently working on the implementation of these measures in cooperation with the Competition Authority.

As noted in the company’s notice on last 17 September, the purchase were dependent upon various conditions being fulfilled, including the approval of the Competition Authority. The parties to the merger continue to work towards fulfilling other conditions.

For further information, contact Árni Pétur Jónsson CEO, through email: fjarfestar@skeljungur.is