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Icelandic State Financial Investments (ISFI) manages on behalf of the Icelandic state 100% holding in Íslandsbanki hf. (Íslandsbanki), 99.8% holding in Landsbankinn hf. and 49.5% in Sparisjóður Austurlands hf. in accordance with Act no. 88/2009 on Icelandic State Financial Investments.

Provisions in Act no. 155/2012 on the sale process of the state´s holdings in financial undertakings and the general budget for 2020 and 2021 authorize the commencement of a sale process for holdings in Íslandsbanki following the submission of a proposal by ISFI which was received by the Minister of Finance and Economic Affairs on 17 December 2020. After receiving comments from the Budget Committee and the Economic Affairs and Trade Committee of Althingi as well as the Central Bank of Iceland, the Minister decided on 29 January 2021 to initiate a sale process.

ISFI and Íslandsbanki are considering the joint hiring of legal advisors in relation to the sale process of the bank. On the one hand a legal adviser with expertise in Icelandic law, e.g., in regards to public offering and listing of shares on a regulated securities market. On the other hand a legal adviser with expertise in foreign/international law concerning public offering and listing of shares on a regulated securities market, including Regulation S/Rule 144a. For further description see the following link, tender process for legal advisors.

This tender falls within the scope of Act no. 120/2016 on public procurement. Ríkiskaup (Central Public Procurement) will oversee the hring process. Submission deadlined is 8 March 2021 at 13.00 GMT. see link below:

Erlend lögfræðiþjónusta fyrir BÍ / Legal advisors for Icelandic State Financial Investments | Útboðsvefur (utbodsvefurinn.is)