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Announcement from Eimskip

·1-min read

Declaration regarding settlement negotiations

The Icelandic Competition Authority has been investigating alleged infringement of Eimskipafélag Íslands hf. (and affiliated entities) and Samskip hf. (and affiliated entities) of art. 10 of the Icelandic Competition Act no. 44/2005 and art. 53 of the EEA agreement, cf. art. 2 of act no. 2/1993. The main period of the investigation is 2008-2013. Additionally, alleged infringements of art. 19 of the Competition Act have been under investigation.

Art. 17 f. of the Competition Act states that if a company infringes any articles of the act, the Competition Authority is permitted to resolve an investigation with a settlement. A settlement according to the Competition Act can entail that a company admits an infringement, agrees to pay a fine and to take actions to enhance competition.

Eimskip has turned to the Icelandic Competition Authority and requested formal negotiations to determine whether the authority’s investigation of the alleged infringement of the company can be settled with reference to art. 17 f. of the Competition Act.

The Icelandic Competition Authority agrees to commence negotiations with Eimskip in order to assess whether a settlement can be made.

Eimskip is aware that the settlement negotiations will seek to sufficiently respond to Eimskip’s actions described in the Competition Authority’s statements of objections dated 6 June 2018 and 13 December 2019. Should the negotiation reach a settlement, it will entail a final conclusion towards Eimskip of the investigation described in the Competition Authority’s statements of objections.

FURTHER INFORMATION
Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communication, tel.: +354 825 3399, email: investors@eimskip.com.


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