Kvika banki hf: The Board of Kvika banki hf. approves merger discussions with Arion banki hf.
Globenewswireยท2025-07-06 21:28
Group 1 - The Board of Kvika banki hf. has approved the request from the Board of Arion banki hf. to initiate formal merger discussions [1] - A letter of intent has been signed by both parties regarding the merger [1] - The proposed share price for Kvika bank is ISK 19.17 and for Arion bank is ISK 174.5, with Kvika shareholders receiving 485,237,822 new shares in the merged entity, reflecting 26% ownership [2] Group 2 - Negotiations are expected to take place over the coming weeks, with further updates to be provided in accordance with statutory disclosure obligations [3] - This notice serves as a disclosure of inside information per article 7 of regulation (EU) No 596/2014 on market abuse [3]