ESÍ sells stake in Sjóvá-Almennar tryggingar
ESÍ, the company set up to administer the assets of the Central Bank of Iceland, has completed the sale of 834,481,001 shares in the insurance company Sjóvá-Almennar tryggingar hf. The sale represents 52.4% of the company´s outstanding share capital.
The buyer is SF1 slhf., a limited partnership administered by Stefnir hf. The transaction follows a purchase agreement concluded on 18 January 2011. Following the sale ESÍ now controls 20.6% stake in Sjóvá-Almennar.
The deal has been approved by the Financial Supervisory Authority and the Icelandic Competition Authority.
28 July 2011