Festi hf.: Non-binding offers received for Olíudreifing ehf.

    Festi hf.: Non-binding offers received for Olíudreifing ehf.

With reference to the announcement of Festi regarding the start of the sales process of Olíudreifing ehf. ("Olíudreifing" or "the Company"), which was published on 26 September 2024, it is hereby informed that a non-binding offers for all outstanding shares in Olíudreifing has been received.

Festi’s Board of Directors has reviewed and evaluated the offers received and subsequently decided, together with its co-owner, to invite three parties to continue in the sales process and provide them with access to further information. 

At this time, there is no assurance that the aforementioned process will result in binding offers for Olíudreifing.

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 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.