Further to Iceland Seafood’s announcement on November 17th, Iceland Seafood has today signed a Letter of Intent (“LOI”) with a respected industry player to sell its subsidiary Iceland Seafood UK Ltd. The LOI is a legally non-binding document but its provisions will serve as key terms in the event of the potential transaction. The parties have agreed to run a swift due diligence process with the aim to complete a binding agreement before end of December. Further update on the progress made in relation to the proposed transaction and its financial impact on Iceland Seafood will be provided as appropriate.
For more information:
Iceland Seafood International hf.
Bjarni Ármannsson, email@example.com