Carpentry store merger not anti-competitive

Shortly before Christmas, P/f Borg announced that it had acquired P/f Havnar Timburhandil.

Kappingareftirlitið (the Antitrust Board) saw a need to check whether the merger was a breach of the antitrust law, as both businesses have a turnover exceeding the limit stated in the law.

But this did not turn out to be a big obstacle, and the board has now approved the takeover.

Acquisition approved

Borg now controls 25-30 percent of the Faroese timber and carpentry market, compared to 20-25 before the takeover.

According to the Antitrust Board, almost a quarter of all timber used in the Faroes is imported, and not bought through carpentry stores.

Faroese carpentry stores also compete with overseas traders.

Translated by prosa.fo