Commercial, corporate and M&A in Iceland


BBA//Fjeldco's 'solution oriented' practice has recently benefited from notable team growth with five lawyers joining the group in mid-2019 and a new London office, which was added following the merger between BBA and Fjeldsted & Blöndal. With a high-profile client roster, which includes major international banks and corporations, the team regularly handles acquisitions in the telecoms, energy and real estate sectors, and has notable expertise in refinancing and restructuring mandates. Einar Baldvin Árnason, who is praised as 'the best in his field', routinely acts for Icelandic companies and investment funds on corporate and commercial law matters. Qualified to practice in Iceland and France, co-head Baldvin Björn Haraldsson has a strong track record in M&A transactions and winding-up proceedings, and Ásgeir Ragnarsson, who is qualified in Iceland and New York, handles M&A, capital markets transactions and regulatory matters. Co-head Halldór Karl Halldórsson is also a key name to note.

Practice head(s):

Baldvin Björn Haraldsson; Halldór Karl Halldórsson

Key clients

Macquarie (MIRA)

Norsk Hydro

Turkish Development Bank

Diversis Capital

Alvogen and Alvotech.

Arctic Green Energy

Kvika bank hf.

Íslandsbanki hf.

Stefnir hf.


Arion Bank hf.

JP Morgan


Goldman Sachs

Boeing Company

Nordic Investment bank

Japan Bank

Swiss Life

Glitnir hf.

Landsvirkjun hf.

Danske Bank A/S and Nordea Bank AB

ABN Amro bank





Work highlights

  • Advised Macquarie on its potential acquisition of Magma Energy Sweden.
  • Advised Icelandair on all aspects of the sale of its hotels and related real estate.
  • Advised Teva Pharmaceuticals on the sale of its entire shareholding to a group of investors.


Juris' team has 'experts in all fields', which enables it to carry out a variety of work including construction projects, full and partial acquisitions of companies for buyers and sellers, refinancing mandates and complex competition law issues. The group also acts for new and established companies in emerging fields; it recently advised Borgun, one of Iceland's largest payment acquirers, on various aspects of its business, and assisted Aurora Stream with financing and structuring matters. Simon Knight is a key name for cross-border mandates; he recently worked with Stefán A. Svensson to advise Júpíter Rekstrarfélag on the ISK47bn sale of its stake in HS Orka. Svensson and co-head Andri Árnason are go-to practitioners for M&A transactions involving competition issues, and co-head Halldór Jónsson manages the tax structuring of M&A and other corporate transactions.

Practice head(s):

Halldór Jónsson; Andri Árnason

Key clients

Íslandspóstur hf.

Bakkastakkur slhf.

Sunnuvellir slhf.

Finnish Fund for Industrial Cooperation Ltd.

Oddi prentun og umbúðir ehf.

Reginn hf.

Halicilla Ltd.

Aurora Stream ehf.

Já hf.

Árvakur hf.

ORF Genetics hf.

Krókháls 13 ehf./Bílaumboðið Askja

Autoledger ehf.

GSOB ehf.

Sportköfunarskóli Íslands ehf.

Aðaltorg ehf.

Rekstrarfélag Júpíter

Úthafsskip/UTS Management

Work highlights

  • Advising Aðaltorg on its construction of an airport hotel, which is constructed from pre-fabricated Chinese modules.
  • Advised Júpíter Rekstrarfélag and its professional investment fund Fagfjárfestasjóðurinn ORK (“FORK”) on the sale of its 12.7% stake in HS Orka.
  • Advising Sunnuvellir on its interest in Silicor’s proposed solar silicon plant in Iceland.

Lex Law Offices

Lex Law Offices advises domestic and international corporations on major acquisitions, which regularly require approval from regulatory bodies including the Icelandic Competition Authority and the Central Bank of Iceland.  Alongside the group's substantial track record in M&A, the team also has notable experience handling the employment,  tax and regulatory elements of wider transactions. Practice head Guðmundur Ingvi Sigurðsson focuses primarily on corporate finance and debt restructuring work; he recently acted for Pearly Abyss on its $425m acquisition of the Icelandic gaming company CCP Games. Iceland Seafood and Reginn are also clients. Garðar Víðir Gunnarsson handles corporate tax work and commercial arbitration proceedings, while Örn Gunnarsson specialises in share capital transactions, corporate finance work and restructurings.

Practice head(s):

Guðmundur Ingvi Sigurðsson

Key clients

Iceland Seafood Iceland

Ancala Partners Ltd.

Costco Wholesale Corporation

Reykjavik Energy

Reginn hf.

Sjávarsýn ehf.

Nasdaq CSD Iceland

Pearl Abyss Ltd.

PCC BakkiSilicon ehf.

Work highlights

  • Advising Ancala Partners on its $320m acquisition of a 50% stake in HS Orka.
  • Acted for Pearly Abyss on its $425m acquisition of the Icelandic gaming company, CCP Games.
  • Advising Nasdaq CSD Iceland on its proposed merger with Nasdaq CSD Baltics.

Landslog – Law Offices

With particular expertise in the retail and real estate sectors, Landslog – Law Offices advises domestic companies on all elements of acquisitions and sales, including due diligence, transaction structuring and regulatory approvals before the Competition Authority. Grimur Sigurdsson covers contentious and non-contentious work in the corporate sector: he recently acted for HS Orka on the sale of its entire shareholding to power company Macquarie Infrastructure and Real Assets for $305m. Vidar Ludviksson focuses primarily on M&A and equity deals.

Practice head(s):

Vidar Ludviksson


Comprehensive team with varied fields of expertise.

Key clients

Hagar hf.

Islandsbanki hf.

The Icelandic Government

HS Orka


Lyfja hf.


Syn hf.

The Icelandic Financial Supervisory Authority

IAV hf.

Work highlights

  • Acted for Hagar on its purchase of all shares in the oil company Oliuverzlun Islands.
  • Assisted FAST-1 slhf. with a purchase agreement for the sale of two real estate companies to Reginn.


With particular expertise in the IT, energy, aviation and banking sectors, the corporate group at LOGOS predominantly handles the sale and acquisition of company shareholdings for domestic clients. Practice head Guðmundur Oddsson recently acted for CCP Games on its sale of Pearl Abyss for $450m, and Thórólfur Jónsson advised Arion Bank on its successful €395m share offering on Nasdaq Iceland and Nasdaq Stockholm. Guðbjörg Helga Hjartardóttir predominantly advises clients on financial restructurings, corporate finance work and M&A.

Practice head(s):

Thórólfur Jónsson; Guðmundur Oddsson; Guðbjörg Helga Hjartardóttir


‘My contact with Logos is Benedikt Egill Árnason. I find him very resourceful and amicable in all aspects. He will assist in immediate circumstances and seeks the advice of others within Logos when required. His advice has been found to be unbiased and to the point. I can wholeheartedly recommend him in the field of Civil Contracting Contracts.’

Key clients

Brim hf.

Icelandair Group hf.

Origo hf.

Goldman Sachs International

Haugen Gruppen Nordic AS

CCP hf.

Verne Global ehf.

Frumtak slhf.

Kerecis hf.

Norvik hf.

Crowberry Capital ehf.

Olgerdin Egill Skallagrimsson hf.

1912 ehf.

Work highlights

  • Advised Origo on its sale of a 55% shareholding in Tempo to Diversis Capital for $34.5m.
  • Advised Bull Hill Capital on its acquisition of shares in Beringer Finance.
  • Advised long-standing client Strax on the disposal of the entire issued share capital of Gear4 HK Limited.

ADVEL Attorneys at Law

ADVEL Attorneys at Law's 'tenacious and dedicated' group recently handled multiple M&A transactions for Icelandic corporates and also assisted with operational matters and commercial agreements. In a recent instruction, Kristinn Hallgrímsson advised N1 on all aspects of its purchase of retail company Festi for ISK38bn, the largest acquisition in 2018 in Iceland; the group also advised the client on its refinancing. Stefan Thor Ingimarsson  regularly advises clients on cross-border transactions, refinancing agreements and restructuring procedures.

Practice head(s):

Stefan Thor Ingimarsson


‘Competence and professionalism are two words that come to mind when I think about partner Stefan Thor Ingimarsson.’

Key clients

Arion banki


Advania Group

Reitir Real Estate

N1 hf.

HB Grandi hf.


Invent Pharma Group


Work highlights

  • Advised Advania on its acquisition of Icelandic/Norwegian company WISE.
  • Acts for Silicor Material on all commercial issues including PPA agreements, financing documents and applications to the Central Bank of Iceland.
  • Advised N1 on all aspects of its purchase of retail company Festi, the largest Icelandic acquisition in 2018.


Lagahvoll's 'professional and focused' practice handles a wide range of corporate matters for domestic businesses including incorporations, commercial agreements, management buy-outs and acquisitions. Practice co-head Daði Bjarnason specialises in company law with experience handling restructuring mandates for financial institutions and acting in winding-up proceedings for corporations. Bjarnason's recent work highlights include acting for Akur fjarfestingar slhf and Horn III slhf on the $50m acquisition of Olgerdin Egill Skallagrimsson, the largest producer of beer and soft drinks in Iceland. Co-head Jóhann Tómas Sigurðsson provides clients with advice on M&A, licensings, shareholder disputes and other corporate and commercial matters.

Practice head(s):

Daði Bjarnason; Jóhann Tómas Sigurðsson


‘For several years I have used Lagahvoll for various cases, from M&A issues and contracts to many other things. The team always acts quickly and delivers a very good result in all areas.’

Key clients

Dohop ehf.

Gleðipinnar ehf.

Atmonia ehf.

1819 – Nýr valkostur ehf.

Immis ehf. / Sigmar Vilhjálmsson

Flotferðir ehf.

Beka ehf.

Múlakaffi ehf.

Work highlights

  • Assisted with the creation of a new central securities depository in Iceland, owned by pension funds and commercial banks, which will compete with Nasdaq in the Icelandic market.
  • Acting for Akur fjarfestingar slhf and Horn III slhf on the $50m acquisition of Olgerdin Egill Skallagrimsson, the largest producer of beer and soft drinks in Iceland.
  • Assisted Gleðipinnar with its purchase of a majority stake in BlackBox Pizzeria.

Réttur – Adalsteinsson & Partners

Réttur – Adalsteinsson & Partners' commercial and corporate practice takes a discernibly different approach to competitors, focusing predominantly on contentious issues arising in the field including shareholders' disputes and criminal law matters. The team also assists with corporate governance work and advises start-up companies, particularly in the fintech sector, on incorporation matters, product development and the implementation of new technologies. Practice head Friðrik Ársælsson is the go-to name for corporate law matters and related litigation; he is acting for Flúx ehf in a dispute in the Reykjavik District Court and the Supreme Court relating to the termination of a shareholders' agreement.

Practice head(s):

Friðrik Ársælsson

Key clients

Anchorage Capital

Indo Services

Icelandic Water Holdings

Flux ehf

Bayerische Landesbank

DZ Bank


Snaps ehf/Jubileum ehf

Félagsbúið Miðhraun


Monerium ehf

Work highlights

  • Assisted several large financial institutions, including BNP Paribas and Commerzbank, with a range of corporate law issues relating to the operations of holding companies.
  • Assisting a shareholder in large Icelandic real estate company with complex corporate law litigation.