Festi hf.: Decision to initiate a formal sales process of Festi and Olís’ shares in Olíudreifing ehf. | 26.09.24

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 preparatory work, Festi and Olís have agreed to formally start the sales process of the companies’ shares in Olíudreifing from today.

Íslandsbanki Corporate Finance is in charge of managing the sales process. More information about the process can be obtained via the email address [email protected].

Where applicable, further information will be provided on the progress of the sales process.

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

The announcement is made public in accordance with Festi hf.’s disclosure obligation under the Market Abuse Regulation (EU) 596/2014 (MAR). to the EU Market Abuse Regulation 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., which was considered to be insider 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 under MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055. The information was made public at 17:00.