Klakki

Klakki concludes the sale of Lykill

07.01 2020

On October 10th, 2019 Klakki signed a purchase agreement with TM hf to acquire 100% stake in Lykill. The purchase price was ISK 9,250 million plus a payment equal to the amount of distributable after-tax-profit of Lykill for the operating year of 2019 that Klakki will receive from the buyer. The transaction was subject to the approvals of:

     (i) TM´s shareholder meeting
     (ii) the Financial Supervisory Authority
     (iii) the Competition Authority

With all the conditions having been met, Klakki and TM concluded the transaction today and TM executed the payment of the purchase price (excluding 2019 after tax profits which will be paid once 2019 accounts have been completed).

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