28-05-2025
Islandsbanki to request merger talks with Kvika banki
COPENHAGEN, May 28 (Reuters) - Islandsbanki ( opens new tab on Wednesday announced that its board of directors will contact Kvika banki ( opens new tab to request the start of merger talks between the two companies, saying that a combination could benefit Iceland's financial system.
Islandsbanki said in a statement that the merger discussions should take place based on the market value of both companies, but that it was willing to offer a 10% premium on Kvika's market capitalisation for the calculation of exchange ratios.
Kvika banki on Wednesday had a market capitalisation of 73.77 billion Icelandic crowns ($581.19 million), including its unlisted shares, according to LSEG data.
($1 = 126.9300 Icelandic Crowns)
