Sale of shares in SP/F Orkufelagið completed

It was announced on 15 February 2023 that SKEL fjárfestingafélag hf. (“SKEL”) had entered into a share purchase agreement with SP/F frá 27. júní 2007 for the sale of all SKEL shares in Sp/f Orkufelagið, or 48.3% of issued shares. Orkufelagið is the holding company for P/F Magn, which is an energy, trade and oil distribution company in the Faroe Islands. The purchase price of the shares is DKK 146,054,899.

The share purchase agreement was subject to the approval of the Faroese Competition Authority. The Competition Authority has confirmed that it will not take any action regarding to the above transaction and all the conditions in the purchase agreement have thereby been fulfilled. The transaction was closed today with payment of purchase price and delivering of shares.

For further information please contact Ásgeir Helgi Reykfjörð Gylfason, CEO, fjarfestar@skel.is