OSLO: The Norwegian Competition Authority advised Icelandic shipper, Eimskip, of an objection it has to the company’s acquisition of the Norwegian company, Nor Lines.
Eimskip said the advice reflects the authority’s preliminary conclusion and it has 15 business days to present counter arguments before final decision is made.
Eimskip entered into an agreement to acquire Nor Lines in November 2016 for a price of around EUR15m ($16.6m). Nor Lines operates a fleet of seven cargo vessels, five of which Eimskip will take over to strengthen its combined service network between Norway, continental Europe and the Baltic Sea.
The company said it is evaluating next steps with its legal advisers.
