ESÍ, the company set up to administer the assets of the Central Bank of Iceland, has completed the sale of 834,481,001 shares in the insurance company Sjóvá-Almennar tryggingar hf. The sale represents 52.4% of the company´s outstanding share capital.

The buyer is SF1 slhf., a limited partnership administered by Stefnir hf. The transaction follows a purchase agreement concluded on 18 January 2011. Following the sale ESÍ now controls 20.6% stake in Sjóvá-Almennar.

The deal has been approved by the Financial Supervisory Authority and the Icelandic Competition Authority.

No. 21/2011 

28 July 2011