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Sýn hf.: Sale of shares in Faroese associate company

Sýn hf.

Syn hf. has today signed an agreement for the sale of its 49.9% share in its Faroese associate P/F 20.11.19 . The purchase price is 52,5 million DKK and will be paid when all the completion condition of the agreement have been fulfilled. It is management estimate that all condition will be fulfilled in Q2 2021. Current service agreement between Syn hf. and P/F will still be in place after the sale. The transaction has no effect on the Syn hf. EBITDA but will strengthen its liquidity position.