Business
Kaldalón hf.: Acquisition of the Property Portfolio of FÍ fasteignafélag
Kaldalón hf. (“Kaldalón”) and FÍ fasteignafélag slhf. (“FÍ fasteignafélag”) have signed Kaldalón’s purchase offer for all real estate assets owned by FÍ fasteignafélag. The property portfolio comprises 11 properties with a total floor area of approximately 25,200 square metres. All properties are located in the Greater Reykjavík area and include, among other things, a hotel, an embassy, a primary healthcare facility and office premises. Key assets within the portfolio include Hverfisgata 103, wh
About this update from Kaldalon Hf
[{"type":"image","alt":"Kaldalón hf.","displaySize":"","headline":null,"caption":"Kaldalón hf.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":83,"url":"https://media.zenfs.com/en/globenewswire.com/0d64e10c9110a34dd99c786fd62234d2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nw.VbAKB_GPAYL1uOa8K4w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTExNjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/0d64e10c9110a34dd99c786fd62234d2","width":300,"height":83}},"lazy":false},{"type":"text","content":"Kaldalón hf. (“Kaldalón”) and FÍ fasteignafélag slhf. (“FÍ fasteignafélag”) have signed Kaldalón’s purchase offer for all real estate assets owned by FÍ fasteignafélag.","length":168,"tagName":"p"},{"type":"text","content":"The property portfolio comprises 11 properties with a total floor area of approximately 25,200 square metres. All properties are located in the Greater Reykjavík area and include, among other things, a hotel, an embassy, a primary healthcare facility and office premises. Key assets within the portfolio include Hverfisgata 103, which houses a 100-room hotel; office premises at Borgartún 25; an embassy at Laufásvegur 31; retail and service premises at Bernhöftstorfa in central Reykjavík; a healthcare facility in Glæsibær, as well as other properties.","length":554,"tagName":"p"},{"type":"text","content":"Kaldalón’s purchase offer was submitted following a structured sale process and was assessed by the board of directors of FÍ Eignarhaldsfélag slhf., the parent company of FÍ fasteignafélag, as the most favourable offer.","length":219,"tagName":"p"},{"type":"text","content":"The total purchase price amounts to ISK 13,150 million and the transaction is fully financed through the issuance of equity and bonds to the sellers. Settlement of the purchase price will be made through the delivery of 228,112,591 new shares in Kaldalón and the issuance of bonds in the amount of ISK 7,232.5 million to the sellers. The bonds will be issued under a new bond class, KALD 220437, which will be listed on Nasdaq Iceland. The bonds will be issued at a yield of 3.93% and sold at par. The margin in the bond issuance amounts to 120 basis points above the average yield of the Icelandic government bond yield curve over the last 10 trading days. The issue price of the new Kaldalón shares to be delivered is based on the average t...