Festi hf.: Decision to initiate a formal sale process of Festi and Olís' shares in Olíudreifing ehf.

    Festi hf.: Decision to initiate a formal sale process of Festi and Olís' shares in Olíudreifing ehf.

In Festi's announcement, dated 10 April 2024, it was announced that the company and Olís, a subsidiary of Hagar, had reached an agreement to begin preparations for the sale of the companies' shares in Olíudreifing ehf. ("Olíudreifing").

Following the preparatory work that has taken place, Festi and Olís have now agreed to formally initate the sale process of the companies' shares in Olíudreifing as of today.

Íslandsbanki Corporate Finance has been entrusted with the management of the sale process. Further information about the process can be obtained via the email address [e-mail].

Further information on the progress of the sale process will be provided when applicable.

Olíudreifing is 60% owned by Festi and 40% owned by Olís.
The company is an important infrastructure company for fuel storage and distribution in Iceland.

The announcement is publicly disclosed in accordance with Festi hf.'s disclosure obligation pursuant to the Market Abuse Regulation (EU) 596/2014 (MAR) to the EU Regulation on Market Abuse No 596/2014 (MAR), cf. Icelandic Act No 60/2021 on Measures Against Market Abuse. The information relates to the decision to initiate a sale process of shares in Olíudreifing ehf., that was considered to contain inside information within the meaning of Article 7 of MAR.  This announcement is made public by Sölvi Davíðsson, the company’s compliance officer, in accordance with the company's disclosure obligations according to MAR and Article 2 of the Commission Implementing Regulation (EU) 2016/1055. The information was made public at 17:00.