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Skeljungur hf.: Sale of P/F Magn to Sp/f Orkufelagid completed

·1-min read

The sale by Skeljungur of all the shares in P/F Magn to Sp/f Orkufelagid was closed today with the payment of the purchase price.

The Enterprise Value (EV) in the trade amounted in total to 12.2 billion ISK (615 million DKK, using the DKK/ISK exchange rate of 19.84). The purchase price of the shares came to 10 billion ISK (503.6 million DKK) and, as announced earlier, Skeljungur will re-invest 2.8 billion ISK (141.1 million DKK), giving the company control over a 48.3% share in Sp/f Orkufelagid following the transaction.

Pursuant to the above, Skeljungur’s equity and net income will increase by 5.9 billion ISK from the company’s interim financial statement of 30 September 2021.

Skeljungur hf, was advised by the corporate finance team of Kvika bank hf. in the transaction.

Sp/f Orkufélagid was advised by the corporate finance team of Arion bank hf. in the transaction.

Further information: Árni Pétur Jónsson, CEO of Skeljungur hf. fjarfestar@skeljungur.is

www.skeljungur.is

https://www.linkedin.com/company/skeljungur-hf/


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