Íslandsbanki has engaged Dutch bank ABN AMRO to act as an independent financial advisor for the listing of Íslandsbanki and the sale of a 25-35% stake in the Bank. As has previously been reported, the Minister of Finance and Economic Affairs decided on 29 January 2021, on the recommendation of Iceland State Financial Investments (ISFI) and upon receiving statements from Parliamentary committees, to commence the process in accordance with the provisions of the Act on the Sale of State Holdings in Financial Undertakings.
ABN AMRO’s role will be to advise Íslandsbanki’s management in connection with the sale. ABN AMRO has valuable experience of such a sale process, and has been listed on the stock exchange in the Netherlands in 2015.
In addition, ISFI intends to engage its own independent financial advisor, as well as one or more global coordinators in connection with the planned sale.