Completion of sale of Icelandic Group operations in France and Germany
Icelandic Group has finalized completion of an agreement to sell the company’s operations in France and Germany to a consortium of investors, led by Pacific Andes. In March of this year, Icelandic Group engaged Merrill Lynch International (“BofA Merrill Lynch”), a subsidiary of Bank of America Corporation to act as financial advisor to the Group in connection with a review of strategic alternatives.
These strategic alternatives were to include, among other things, divestment of one or more of the Group´s businesses as well as equity financings. The sale of the Group´s operational platform in France and Germany forms part of this review.Go back