Lands­bankinn Cor­por­ate Fin­ance ad­vises Re­ginn on real es­tate de­vel­op­ment trans­ac­tion

Reginn hf. and Hagar hf. concluded a subscription agreement on 3 December 2021, providing for subscriptions to shares in real estate developer Klasi ehf. Reginn will own a third of shares in Klasi and pay for its shares with an asset portfolio comprised of assets for sale and property for development.

As stated in a notice to Nasdaq OMX Iceland, the companies will partner to further develop Klasi and its subsidiaries. Sustainable development of the companies’ assets is one of the objectives of the partnership. The merged company will be in a position to support sustainable city development, i.e. a varied mix of commercial, service and residential housing.

Landsbankinn Corporate Finance acts as advisor to Reginn in the transaction.