Ardian France SA agreed to acquire Míla Ehf from Síminn hf. (ICSE:SIMINN) for an enterprise value is ISK 78 billion on October 23, 2021. According to the agreement, Síminn hf. will be paid ISK 44 billion in cash and ISK 15 billion in the form of a bond that Síminn lends to Ardian for three years. The bond is a one-off bond, bears market interest rates, is secured by shares in Míla and is transferable. Enterprise value is ISK 78 billion, which includes the assumption of Míla's debt. Alongside Ardian, several Icelandic pension funds will have the opportunity to invest in Míla. The sale is subject to normal conditions, such as approval by the Competition Authority. This transaction is yet to receive clearance from local competition authorities. Ardian does not own any competing or overlapping businesses with Míla in Iceland or in the Nordic countries. The sale is expected to be completed in H1 2022. Lazard Ltd (NYSE:LAZ) and Íslandsbanki acted as financial advisors and LOGOS Legal Services acted as legal advisor to Síminn hf.

As of July 6, 2022, the national Competition Authority had come to the preliminary conclusion acquisition of Míla from Siminn would distort competition and would not gain its approval without conditions or more explanation. The deadline for responding to the objection is July 15, 2022, but if conciliation talks is requested, the cut-off date for the probe automatically extends until August 18, 2022.