Landsbankinn’s shareholding was 47.9% and the combined shareholding of Bál ehf. and Solvent ehf. was 52.1%.
The total value of GMÍ in the transaction amounts to ISK 3,500 million and the transaction is subject to conventional approval by the Icelandic Competition Authority.
The final purchase price is calculated based on such factors as net interest-bearing debt and current assets on the reference date for settlement.
GMÍ specialises in solutions linked to payments, collection, claim management and loan administration.
The sale process was in accordance with Landsbankinn’s policy on the sale of assets and was open to all investors who met the seller’s participation requirements.
Advisors to the seller were Landsbankinn Corporate Finance, ARMA Advisory and BBA // Fjeldco. LOGOS Law Firm acted as legal advisor to the buyer in the transaction.
