FESTI HF. Festi hf. (ICSE:FESTI) signed an agreement to acquire all shares of Lyfjaval ehf from Lyfsalinn ehf. on March 17, 2023.
The consideration will be paid in 10 million shares and ISK 6 billion cash.The deal is subject, among other things, to the following conditions: (i) that an agreement is reached on the final purchase agreement (ii) due diligence is carried out (iii) financing of the transaction (iv) that the buyer's shareholders' meeting approves the use of share capital for the transaction (v) the approval of the Icelandic Competition Authority. If agreed, the transaction is expected to close in the 1st quarter of 2024.
