Landsbankinn Corporate Finance acted as advisor to the Blue Lagoon hf. in its acquisition of Arctic Adventures hf. and increased investment in three geothermal lagoons.
The transaction was approved by a shareholder meeting of the Blue Lagoon on Friday, 24 July.
Landsbankinn will also advise the Blue Lagoon on its intended listing on the Icelandic stock market.
Purchase of Arctic Adventures hf.
Landsbankinn acted as advisor to the Blue Lagoon in its acquisition of all share capital in Arctic Adventures. This strategic acquisition is part of the continued development of the Blue Lagoon through the addition of a strong company in the travel and entertainment sector.
The Blue Lagoon hf. is the parent to a group of dynamic companies, each a leader in its field, and centred on experience tourism, health and wellness, skin products and the development of sustainable destinations. Operations and activities are based on decades of experience, research, design and innovation that puts nature first.
Increased investment in three lagoons
Landsbankinn further advised the Blue Lagoon on its increased investment in Norðurböð hf., a shareholder in Jarðböðin in Mývatn and Sjóböðin in Húsavík. Jarðböðin is also a shareholder in Vök Baths near Egilsstaðir.
The objective of the transaction is to strengthen the core operation of the Blue Lagoon at diverse destinations in Iceland and diversify risk. The investment is part of the on-going emphasis on first-rate experiences and wellness in the company’s future growth.
The transaction is subject to conditions, including approval by the Iceland Competition Authority.
Ásgeir Baldurs, CEO of Arctic Adventures and Sigríður Margrét Oddsdóttir, CEO of the Blue Lagoon.
