Þorbjörg Ásta Leifsdóttir

BBA//Fjeldco served as lead counsel to Hagar hf., one of Iceland's largest retail companies, in its acquisition of P/F SMS, a leading retail company based in the Faroe Islands. This landmark cross-border transaction, valued at approximately ISK 9 billion, underscores Hagar’s strategic expansion into the Arctic region and strengthens its position as a leader in the grocery retail sector.

This acquisition represents a pivotal step in integrating innovative retail strategies and enhancing operational synergies between the two companies. BBA//Fjeldco advised on the transaction structure, as well as conducting thorough due diligence, drafting and negotiating transaction documents, and addressing complex cross-border legal challenges.

As one of the most notable cross-border M&A transactions by an Icelandic company, it also highlights BBA//Fjeldco’s expertise in high-value cross-border mergers and acquisitions.

BBA//Fjeldco acted as legal adviser to Rotovia hf., with respect to an acquisition of the rotational molding activities of Berry Global Inc., global manufacturer and marketer of plastic packaging products. Rotovia hf. is an entity owned by private equity funds Freyja (managed by Kvika eignastyring hf.) and SIA IV (managed by Arion Bank hf.) and key management. Among the aspects of the transactions BBA//Fjeldco advised on were the Share Purchase Agreement with Berry Global Inc., and the Facility Agreement with Private Debt II (a senior fund managed by Capital Four). This was a complex multi-jurisdictional transaction that took over a year to complete, involving W&I insurance, whereas Rotovia acquired a carve-out of the rotational molding activities of Berry Global Inc. and subsequently became a leading international player in the fragmented rotational molding plastic product market.

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BBA//Fjeldco is happy to have been Icelandic legal advisor of Rapyd Financial Network (2016) Ltd. acquisition of Valitor hf. The deal size has been reported as $100 million and the transaction is expected to close by the end of 2021, subject to regulatory approval.

Rapyd first entered the Icelandic market in 2020 through its acquisition of Korta (now Rapyd Europe hf.) The acquisition of Valitor will provide Rapyd with an expansion of its payment capabilities throughout Europe as Valitor is a well-established payment brand and is considered one of Europe’s leaders in providing both in-store and online payments acceptance solutions as well as card issuing.

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https://www.rapyd.net/company/news/press-releases/rapyd-to-acquire-valitor-expanding-access-to-global-payments/

The Dutch company Total Specific Solutions has completedthe purchase of all shares in the Icelandic software company DK Hugbúnaður ehf.BBA//Fjeldco represented the buyer during the transaction. The firm’s lawyersconducted a legal due diligence on DK Hugbúnaður and provided the buyer withlegal advice regarding the transaction. In addition, they worked closely withthe sellers’ lawyers on documentation and closing of the transaction. Thetransaction is one of the largest corporate transactions of the year in Icelandand among the largest foreign investments in an Icelandic company in a longtime.