News

Shareholdings in Islandsbanki hf.

On the 4th of March, ISFI submitted a proposal to the Minister of Finance and Economic Affairs regarding the sale of the state´s holdings in financial undertakings, to commence a sale of at least one-fifth of its holdings in Íslandsbanki in a dual track sale process. The proposal was accompanied by a detailed report Ownership and sale of Íslandsbanki hf.: Status report on proposed sale process.

In light of the extraordinary changes in circumstances regarding the world wide fight against COVID-19 virus and the serious economic uncertainty ahead of us, the board of ISFI decided at a meeting on the 12th of March to revoke the proposal.

When the proposal was submitted on 4th of March ISFI decided, in consultation with the Ministry of Finance and Economic Affairs, to temporarily delay the publication of the proposal to co-ordinate presentations and to complete the English translations.

However, as the proposal has been revoked and with reference to the objectives of Act no. 88/2009 on ensuring transparency in all decision-making regarding the states's participation in financial activities and active disclosure of information to the public, the proposal, the status report and the withdrawal are now officially published on ISFI's website, together with an English translation of the summary of the report.

Below is a link to the summary of the status report:

Summary status report

For further information contact Jon G. Jonsson, CEO of ISFI, +354-550-1700