Sara Rut Sigurjónsdóttir

The BBA//Fjeldco team congratulates Arctic Therapeutics on the successful closing of their €26.5M oversubscribed Series A financing. This significant milestone will help propel the company's groundbreaking treatments for dementia and inflammatory skin diseases further into clinical development.

Another shining example of Icelandic innovation, BBA//Fjeldco is proud to support Arctic Therapeutics in their mission of addressing critical unmet medical needs and improving lives worldwide and it will be exciting to watch the next chapter in the company's development.

Congratulations again to Arctic Therapeutics on a successful financing.

BBA//Fjeldco acted for Holding Cage AS in relation to the sale of Norwegian fishing equipment manufacturer Morenot AS to Hampidjan. Hampiðjan is a leading international company  in producing, developing and servicing quality netting and fishing gear for fishing vessels. There are now 28 companies in the Hampidjan Group, servicing the world fishing fleets at 35 locations around the world from Alaska to New Zealand, and the addition of Morenot AS further sements Hampidjan's market position.  The transaction followed extensive due diligence process and was subject to the approval from the competition authorities in Iceland, the Faroe Islands and Greenland.

BBA//Fjeldco provided legal advice to Islandsbanki in relation to the financing of the acquisition of French private equity firm Ardian of the telecommunications operator Míla ehf. The advice included negotiating loan documentation, bond issuance documentation, intercreditor agreement and security documentation.

The transaction represents one of the largest foreign investments in Iceland in recent years. Islandsbanki is one of the leading commercial banks in Iceland. Mila ehf. is the main telecommunications infrastructure company in Iceland. Ardian France SA is one of the largest private equity managers in Europe and is focusing on essential infrastructure.

BBA//Fjeldco provided legal advice to Islandsbanki in the sale of Reykjavik DC hf., one of the most technologically advanced data centers in Iceland, to an Icelandic company in majority ownership of a French investment fund Vauban Infrastructure Partners. The seller acquired Reykjavik DC hf. following a debt settlement with the company’s creditors, which involved challenges in the documentation and negotiations. Our role was to draft the share purchase agreement and advise the bank through the sales process, from the offering to closing.

BBA//Fjeldco provided Arion Bank and DNB Bank ASA  legal advice in relation to providing a EUR 65 million term and revolving credit facilities to Arnarlax ehf. Arnarlax ehf. is one of the leading Icelandic fish farming company and owned by Icelandic Salmon AS listed on the Oslo stock exchange.

BBA//Fjeldco advised Icelandic State Financial Investments (ISFI) and Íslandsbanki hf. relation to the IPO, which is the largest IPO in history of Iceland and the largest European bank IPO since 2018.

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Prior to the IPO Íslandsbanki was wholly owned by ISFI, on behalf of the Treasury of Iceland. ISFI will hold 65% of the share capital of Íslandsbanki hf. following the offering, assuming full exercise of the overallotment option.

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The team was led by partner Einar Baldvin Árnason, partner Bjarney Anna Bjarnadóttir, senior associate Sara Rut Sigurjónsdóttir, associate Sigvaldi Fannar Jónsson and partner Kári Ólafsson.

 BBA//Fjeldco acted as the legal advisors for the merging entites, i.e. TM hf., Kvika banki hf. and Lykill fjármögnun hf. throughout the merger process, which covered all aspects of the deal, including but not limited to drafting of transaction documents, due diligence, competition matters, tax matters, regulatory issues in relation to the Financial Supervisory Authority and NASDAQ OMX Iceland. This is by far the largest and most high profile merger in Iceland in recent years,involving three different types of financial undertakings, an insurance company (TM hf.), a commercial bank (Kvika banki hf.) and a leasing company (Lykill fjármögnun hf.).

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BBA//Fjeldco advised Icelandair hf. in relation to the sale of Icelandair Hotels and related estates to Berjaya Corporation

BBA//Fjeldco acted as a legal advisor to Innergex Renewable Energy in the acquisition of Alterra Power Corp., that holds a majority stake in the Icelandic energy producer HS Orka hf. The transaction amounted to the value of USD 1.1 Billion.

BBA//Fjeldcoacted as legal adviser for Sjóklæðargerðin hf., owner of the Icelandic outwearbrand 66° North, in relation to a USD 30,000,000 investment by Mousse Partners,run by the Chanel family.

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