Changes in ownership

Friday, July 13, 2012


Changes in ownership

  • Lífeyrissjóður verzlunarmanna acquires 14% share in Eimskip.
  • Landsbanki Íslands and Yucaipa respectively sells 7% of their share in Eimskip.
  • This transaction fits well with Eimskip's proposed listing on NASDQ OMX Iceland.

The largest shareholders of Eimskip, Landsbanki Íslands and the American investment firm Yucaipa, have informed Eimskip of a transaction with their shares in Eimskip. Each party has sold 14 million shares to Lífeyrissjóður verzlunarmanna, which hence acquires in total 28 million shares, which represents 14% of total shares in Eimskip. The purchase price is around EUR 36 million.

Straumur Investment Bank arranged the transaction that occurs in the precursor of the proposed listing of Eimskip on the NASDAQ OMX Iceland. The transaction fits well with the company's plans and ensure a more diverse shareholder base. Following the transaction Lífeyrissjóður verzlunarmanna owns in total 14,6% of the total share in Eimskip, and is the third largest shareholder, after Yucaipa which owns in total 25,3% and Landsbanki Íslands which owns around 30,3%.

The preparation of the proposed listing of Eimskip on NASDAQ OMX Iceland is going well. It is proposed that a public offering will take place concurrent to the listing where investors as well as the general public will be given the opportunity to acquire shares in Eimskip. It is proposed that the listing will take place before yearend 2012.

About Eimskipafélag Íslands hf.

Eimskipafélag Íslands was founded on January 17th, 1914. Founding partners totaled 14 thousand, which at the time represented close to 15% of the nation's population. Since its foundation, the Company has primarily focused on shipping transport to and from Iceland. Today, Eimskip offers complete international transportation services. Eimskip currently operates in 17 countries, with 17 vessels and around 1.260 employees. The Company's primary goal is to offer premium service in its home market, the North-Atlantic, while simultaneously providing comprehensive reefer logistics worldwide.

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