Skel Fjárfestingafélag Hf signed a purchase agreement for 55 apartments, total 4,905 sqm, at Stefnisvogur 12, 104 Reykjavik, owned by Stefnisvogur 2 ehf. The purchase price is ISK 4,900,000,000. The apartments will be delivered before the end of 2023.

Parallel to signing the purchase agreement, an agreement was made granting SKEL the call option to purchase 35 apartments, total 3,816 sqm, at StefnisVogur 12, 104 Reykavik, owned by Stefnivogur ehf. The call option purchase price is ISK 3,243,600,000. If SKEL exercises its option, the seller will deliver the aparments before the end of 2024.

Part of the purchase price will be paid with the transfer of shares and shareholder loans in Reir throun ehf. at booked value. On 30 June 2023, the book value of shares and shareholder loans in reir throun was ISK 1,753,000,000.

If the call option is exercised, SKEL will have transferred all its shares in Reir throun. The purchase price will also be financed with a bank loan and cash. Upon delivery, SKEL will lease these apartments.