The investment company Horn hf. acquires 99% of the shares in Promens

13.07.2011

The investment company Horn hf, has acquired 99% of the shares in Promens as well as all other possessions of Atorka Group in Promens. Before the transaction Horn had a minority share in Promens. Horn is a subsidiary of Landsbanki, one of Iceland’s largest banks, owned by the government of Iceland.

“We are very pleased with this transaction” says Ragnhildur Geirsdottir President & CEO of Promens: “It clarifies and simplifies our owner structure and will have a positive impact on our activities. Horn is a strong investment company and we look at this as an important milestone in providing the backup we need for further growth” says Ragnhildur.

Hermann Thorisson chairman of the board of Promens says; “We are very pleased to have reached this agreement with Atorka. Promens is an important player in its markets and we have high expectations to its future growth potential.”

The remaining 1% of the share capital in Promens is owned by key managers in the company.