Festi hf: Festi acquisition of all shares in Lyfja hf. – Request for conciliation talks with the Icelandic Competition Authority.
26 Marzo 2024 - 10:30AM
UK Regulatory
Festi hf: Festi acquisition of all shares in Lyfja hf. – Request
for conciliation talks with the Icelandic Competition Authority.
Reference is made to Festi’s announcement,
published on the 18th of March 2024, regarding the
preliminary conclusions in the Icelandic Competition Authority’s
investigation into the competitive effects of Festi’s purchase on
the entire share capital of Lyfja hf. It is stated therein that the
merger will, based on the current state of the investigation,
require intervention by the Icelandic Competition Authority.
Festi has now submitted a response to the
Icelandic Competition Authority‘s preliminary conclusions where
Festi‘s arguments and proposals for remedies are presented. The
response formally requests a conciliation talks with the Icelandic
Competition Authority on possible remedies associated with the
aquisition. Festi‘s request is now under evaluation by the
Icelandic Competition Authority.
Accordingly, the Competition Authority’s
deadline for investigating the competitive effects of the purchase
has been extended by fifteen working days, or until the
23rd of May 2024.
Further information about the progress of the
matter will be provided when applicable.
For further information, please contact Ásta S.
Fjeldsted, CEO of Festi (asta@festi.is) and Magnús Kr. Ingason, CFO
of Festi (mki@festi.is).
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