Twelve bids received

The deadline for submitting non-binding offers for Húsasmidjan expired yesterday, and a total of twelve bids were received for the company and its individual operating units. Landsbanki’s Corporate Advisory division, which is acting for the Enterprise Investment Fund in the divestment procedure, will now take two weeks to analyse the bids.

When an advertisement was posted calling for non-binding bids for Húsasmidjan last 22 August, it was announced that investors were being sought who were interested in acquiring an interest in Húsasmidjan or its individual operating units.  The procedure was open to all interested and qualifying investors, who were supplied with presentation material on the company against the signature of a non-disclosure agreement.

Húsasmidjan was established in 1956 and is one of the largest service and retail undertakings in Iceland. It is a leading company in the sale of construction material and equipment, with 16 stores operating under its own brand across the country. In addition, the company owns nine shops under the names of Blómaval, Ískraftur and HGG wholesale.