SKEL fjárfestingafélag hf.: Orkan signs purchase agreement for shares in Samkaup

Group 1 - The merger agreement between Samkaup and Atlaga has been reached, with competition authority approval obtained in April [1] - A purchase agreement has been signed for KSK to sell its 51.3% stake in Samkaup to Orkan for ISK 2,878 million, valuing Samkaup at ISK 5,610 million [2][3] - The transaction will create a group structure similar to listed retail companies in Iceland, focusing on groceries, energy, car wash services, and pharmaceuticals [5] Group 2 - Following the transaction, SKEL's stake in the group's parent company will be approximately 63%, valued at ISK 13,500 million [6] - The transaction is contingent upon several conditions, including binding subscription commitments for new share capital and approval from the KSK supervisory council [8] - The CEO of SKEL expressed optimism about the merger, emphasizing operational streamlining and customer focus to enhance competitiveness in the retail market [7]