Kaupthing Bank hf. and Sparisjdur Reykjavkur og ngrennis hf. (SPRON) have decided to enter negotiations on a possible merger between the companies.
Negotiations are expected to be completed in approximately four weeks.
Any merger of the companies is subject to the approval of a SPRON shareholders’ meeting, the board of directors of Kaupthing, the Icelandic Financial Supervisory Authority, the Icelandic Competition Authority and the companies’ creditors.