Commercial, corporate and M&A in Iceland


The team at BBA//Fjeldco is led by M&A experts Baldvin Björn Haraldsson and Einar Baldvin Árnason. Specialising in corporate, commercial and energy law, the group counts major clients including Icelandair, Macquarie and Microsoft on its impressive roster. The practice leverages the firm's offices in Reykjavik and London to handle the key international aspects of mandates. In particular, the team has a strong track record in M&A, acting for buyers and sellers in the telecoms, energy and real estate sectors. Ásgeir Ragnarsson is the key name to note for matters concerning capital markets and company law issues, and Halldór Karl Halldórsson is also active in the space.

Practice head(s):

Baldvin Björn Haraldsson; Einar Baldvin Árnason

Other key lawyers:

Ásgeir Ragnarsson; Halldór Karl Halldórsson


‘BBA//Fjeldco provided great insight into the Icelandic market for us. I found them easy to work with and able to translate the Icelandic context for us in a straightforward way. They were also innovative and commercial in their perspectives.’

‘Baldvin Björn Haraldsson was a great partner who led the project for me. He was available, resourceful, creative, and organised a strong product from his team. He helped us navigate some tricky situations with well considered perspectives while also offering new ideas.’

‘Most experienced partners in Iceland when it comes to corporate law. Head and shoulders above other practices,’

‘Einar Baldvin Árnason is very skilled and honest in his work. Always willing to go the extra mile, night and day. He makes the client feel like they are his only priority.’

‘The team is responsive and service orientated, works fast when required, always available and delivers material and documents on time. They are experienced in transactions and offer valuable insights and advice on contracts.’

‘Attention and focus on deals from most senior partners. They are easy to access any time and are exceptionally solution oriented in their whole approach during deal making. I think their hands on approach and strong problem solving skill set is their greatest asset.’

‘The BBA//Fjeldco team has provided our company quick, professional, adequate and constructive support in the matter they have supported us on. The individuals involved have had the right level of expertise, communicated in a clear manner and shown good knowledge on where to seek information. Our contacts have also shown appropriate level of contacts in the Icelandic society and business environment so we are very pleased on the support provided and the performance by the team.’

‘Einar Baldvin Árnason is probably the most experienced M&A lawyer in Iceland. He has a completely unique approach to projects where he is not only conducting paperwork but also providing solutions which are facilitating the transactions.’

Key clients

Macquarie Infrastructure and Real Assets Europe (MIRA)

Icelandair Group hf.

Norsk Hydro

Luxottica Group (Armani Exchange, Chanel, Bvlgari , Burberry, Giorgio Armani, Michael Kors, Oakley etc),

Aviation Fuelling Services Norway AS.

Amazon Data Services

Alvogen and Alvotech

Arctic Green Energy

Kvika bank hf.

Íslandsbanki hf.

Stefnir hf.


Arion Bank hf.

JP Morgan


Goldman Sachs

TM hf.

Nordic Investment bank

Japan Bank

Nox Holding ehf.

CIT Group Inc.

Landsvirkjun hf.

Danske Bank A/S and Nordea Bank AB

ABN Amro bank




Valitor hf.


At Juris, Halldór Jónsson and Andri Árnason jointly lead the team, which assists with commercial, corporate and M&A matters. With expertise in the banking, natural resources, fishing, energy, hospitality and infrastructure sectors, the group also advises on telecoms and technology mandates. Fielding Icelandic and English-qualified lawyers, the group handles cross-border transactions, refinancing mandates, competition issues and project finance work. Simon Knight is the go-to name for international matters.

Practice head(s):

Halldór Jónsson; Andri Árnason

Other key lawyers:

Simon Knight


‘Highly capable experts in their field.’

‘Very good knowledge of specialties and difficult issues. Halldór Jónsson has worked with us on specialised issues and has shown great interest and dedication.’

‘In our view Juris is a very competent and professional practice which offers good value for money. Their service is personal and they focus on their customers‘ needs. They have strong partners with depth of knowledge both on a practical and theoretical legal level. They have good knowledge on commercial issues and how that should be reflected in legal documentation.’

‘We would mention the partners Simon Knight and Andri Árnason in particular. Simon Knight is very strong in finance and cross-border corporate matters. Simon is diligent, meticulous with high attention to detail and swiftly responds to any inquiries. Simon speaks splendid Icelandic which is quite unusual for a non-native. Andri has proven to be very knowledgeable about Icelandic corporate law.’

Key clients

Sunnuvellir slhf.

Summa rekstrarfélag hf.

ORF Genetics hf.

Aðaltorg ehf.

Halicilla Ltd.

HB 5-7 ehf.

Ísfélag Vestmannaeyja hf.

Lýsi hf.

Fastus ehf.

Árvakur hf.

Já hf.

Vísar rannsóknir ehf.

RÚV ohf.

Megafone ehf.

Eyja fjárfestingafélag III ehf.

Work highlights

  • Advised Sunnuvellir on its interest in Silicor’s proposed solar silicon plant in Iceland.
  • Assisting Halicilla with the management of its Icelandic corporate group and property portfolio as well as advice in respect of proposed legislative changes in Iceland in respect of land ownership and management of salmon rivers.
  • Acted for Eyja fjárfestingafélag and related parties on the share sale and purchase of Domino’s Pizza in Sweden and Norway.

Lex Law Offices

At Lex Law Offices, the commercial, corporate and M&A group is led by debt restructuring expert Guðmundur Ingvi Sigurðsson and share capital specialist Örn Gunnarsson. With 'an excellent granular approach', the team works in close association the firm's tax, IP, finance and competition practices; in particular, it helps clients secure funding for transactions, provides advice on investments in Iceland and has a strong track record in refinancing mandates for major companies and government agencies. Clients can also benefit from the group's expertise in loan and security agreements and restructurings. Garðar Víðir Gunnarsson is the key contact for the tax elements of transactions.

Practice head(s):

Guðmundur Invgi Sigurðsson; Örn Gunnarsson

Other key lawyers:

Garðar Víðir Gunnarsson


‘Specialist in every area with outstanding understanding of the subject.’

‘Good corporate understanding in mergers and acquisitions.’

‘The team knows us as a client and is therefore able to make judgements on our priorities and philosophy and they are granular in their approach in areas we deem necessary.’

Key clients

XL Catlin Services SE

Juneyao Airlines

Ancala Partners LP

Iceland Seafood International hf.

Rapyd Financial Network (2016) Ltd.

Nordic Environment Finance Corporation

Sjávarsýn ehf.

Costco Wholesale Corporation

Reykjavik Energy

Nasdaq CSD Iceland

Work highlights

  • Advised XL Catlin Services SE, an affiliate of AXA Group, on the provision of a warranty and indemnity insurance policy for a transaction whereby Lykill fjármögnun hf. was acquired for ISK9.2bn by Tryggingamiðstöðin hf.
  • Acted as a legal adviser to Iceland Seafood International regarding its €4.4m acquisition of ELBA Seafood ehf.
  • Acted as a local legal adviser on Israeli company Rapyd Financial Network’s acquisition of the entire share capital of Icelandic payment institution KORTA hf.

LOGOS legal services

At LOGOS legal servicesThórólfur Jónsson and Guðbjörg Helga Hjartardóttir lead the team in Reykjavik, while Guðmundur Oddsson heads up the London-based practice. Handling all aspects of commercial, corporate and M&A work, the team also acts on restructuring and refinancing mandates. With a client roster of listed corporates, the group is notably active in the fishing, automotive, technology and life sciences sectors; in a recent highlight, the team advised Klakki on the sale of the largest car leasing business in Iceland for ISK9.3bn.

Practice head(s):

Thórólfur Jónsson; Guðmundur Oddsson; Guðbjörg Helga Hjartardóttir

Other key lawyers:

Gunnar Sturlusson


‘The LOGOS team has exceptional skills and capabilities in all legal areas.’

‘Proven track record, highly skilled team, in-depth sector knowledge. Very scalable practice.’

‘Professional and personal service. Result driven.’

‘The Logos team provides relevant advice in a timely fashion. Besides their legal knowledge they also shows a great interest and understanding of our business and even the PR side when it comes to M&A activities and related regulatory areas.’

‘The managing partner, Thórólfur Jónsson, is most likely the most qualified lawyer in the M&A field in Iceland having managed several large transactions, both domestically and internationally.’

‘Guðmundur Oddsson has been my legal council and is excellent in every manner.’

‘The partner Gunnar Sturlusson has been a great support for us in our local M&A activities. His attention to detail, willingness and ability to understand our business and sound judgement have been much appreciated.’

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 hf. in connection with the US restructuring of Tempo, and assisted the client with its sale of 55% shareholding in Tempo ehf.
  • Advised Euronext-listed GTT (Paris) on its acquisition of the entire share capital of Marorka ehf.
  • Advised the Housing Financing Fund on its ISK50bn acquisition of mortgage loans from Arion bank hf.

ADVEL Attorneys at Law

Led by company law expert Stefan Thor Ingimarsson, the team at ADVEL Attorneys at Law recently handled substantive M&A transactions for Arion bank, Novomatic AG and the Advania Group. The group also plays a key role in major stock exchange listings and regularly works on cross-border matters for clients in the energy, insurance and fishing sectors. In a recent highlight, the team assisted Hampidjan with its acquisition of shares in Scottish companies Jackson Trawl and Jackson Offshore Supply. Arni Freyr Arnason recently joined the team.

Practice head(s):

Stefan Thor Ingimarsson

Other key lawyers:

Arni Freyr Arnason


‘Responsiveness and experience. Broad knowledge of various forms of  corporate challenge.’


Lagahvoll's commercial, corporate and M&A group is led by Daði Bjarnason and Jóhann Tómas Sigurðsson who are experts in banking and company law. The team advises clients in the financial industry on bond issuances, M&A transactions, start-up matters and joint venture agreements; clients also benefit from the practice's strong track record in risk review and crisis management issues.

Practice head(s):

Daði Bjarnason; Jóhann Tómas Sigurðsson

Key clients

Félagsbústaðir hf. (Reykjavík Social Housing).

Verðbréfamiðstöð Íslands hf.

Dohop hf.


Beka ehf.

Vistbyggð ehf.

Félag eldri borgara og nágrenni

Gleðipinnar ehf.

Flotferðir ehf.

HT 1 ehf.

Work highlights

  • Advised Félagsbústaðir on its bond issuances, with its issuances in 2019 and 2020 being the first social bonds issued by a domestic issuer under a Social Bond Framework based on ICMA Social Bond Principles.
  • Advised Dohop in relation to its financing from easyJet and further financing and other legal matters.
  • Advised Gleðipinnar ehf. on its merger with Foodco ehf. creating a ISK6bn food and entertainment company in Iceland.

Landslog – Law Offices

Core strengths for the practice at Landslog – Law Offices include restructuring mandates and M&A work, and handling regulatory approvals before the Samkeppniseftirlitið (Iceland’s Competition Authority). The team is led by Viðar Lúðvíksson, who is an expert in real estate and telecoms matters. Additional names to note include Jóhannes Karl SveinssonJóhannes Bjarni Björnsson and Áslaug Árnadóttir, respective specialists in government, infrastructure and retail matters.

Practice head(s):

Viðar Lúðvíksson

Other key lawyers:

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson; Áslaug Árnadóttir

Key clients

Hagar hf.

Syn hf./ Vodafone Iceland

Isavia (Icelandic Airport and Air Traffic Management)

DeCode Genetics

Icelandic Regional Development

The National University Hospital

Kaupthing hf.


Alvogen pharmaceuticals




University of Iceland Lottery



Icelandic Fish Market


Icelandic Prime Contractors

Work highlights

  • Advised Hagar hf., a listed company, on the prospectus and legal issues in relation to the company’s bond issuance in the amount of ISK8bn.
  • Advised Samkaup on its merger with parts of the retail chain Basko.

Réttur – Adalsteinsson & Partners

Led by Sigurður Örn Hilmarsson, the team at Réttur – Adalsteinsson & Partners provides 'clear-cut expert opinions' and handles transactional document drafting, corporate restructuring work and large-scale business negotiations; it also advises on M&A work, management incentive plans and regulatory matters. With a notable client list, the firm counts BNP Paribas, Commerzbank and the Iceland Symphony Orchestra on its roster. Former practice head Friðrik Ársælsson departed for an in-house role at Arion Bank.

Practice head(s):

Sigurður Örn Hilmarsson


‘Knowledge and expertise in their respective fields. Willingness to understand client needs and challenge assumptions and provide clear-cut expert opinions.’

‘Listeners, learners and thinkers. Deliver thorough output in timely manner.’

Key clients

Flux ehf

Monerium ehf

Icelandic Water Holdings

BNP Paribas, Commerzbank , DZ Bank, Bayerische Landesbank

Álftavatn ehf.

Iceland Symphony Orchestra

Grillmarkaðurinn ehf.

ENOX Production Services GmbH


Work highlights

  • Assisted Icelandic Water Holdings with its $66m refinancing.
  • Assisting SÍBS with major agreements, including vendor agreements and corporate governance issues.