Skip to main content

SKEL fjárfestingafélag hf.: Due Diligence Completed in Connection with the Merger of Samkaup, Heimkaup, and Orkan. Addendum to Letter of Intent Signed.

Written by Customer Service on . Posted in Public Companies.

Reference is made to the announcement on 15 May 2024, regarding the letter of intent between SKEL fjárfestingafélag hf. (“SKEL“) and Samkaup hf. (“Samkaup“), reg.no. 571298-3769, concerning the merger of Samkaup and certain companies within the SKEL group, specifically Orkan IS ehf., Löður ehf., Heimkaup ehf., and Lyfjaval ehf. (the “Merging Companies“).

Since the signing of the letter of intent, the parties have conducted financial, tax, and legal due diligence on Samkaup and the merging companies. The results of the due diligence have been reviewed, and an addendum to the letter of intent, originally signed on May 15, has been executed. The terms of the letter remain largely unchanged, except for the agreed exchange ratios. Samkaup shareholders will hold 52.5% of the merged company, while Heimkaup shareholders will hold 47.5%. SKEL’s ownership in the merged company is expected to be 47%, having previously held 5% share in Samkaup through its holding company Eignarhaldsfélagið Bjarmi ehf.

The parties are currently working to finalize the remaining material issues in the merger agreement, with the goal of resolving them in the coming days. SKEL will provide further updates as developments occur.

For further information, please contact Ásgeir Helgi Reykfjörð Gylfason, CEO of SKEL, at fjarfestar@skel.is

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.