The corporate advisory division of Kvika Banki, on behalf of Lindarhvol ehf., announces that Lyfja hf. is for sale. Lyfja is the biggest chain of pharmacies and health stores in Iceland, since the company runs a total of 50 pharmacies, branches and stores, in addition to smaller outlets located all around the country under the brand names of Lyfja, Apótek and Heilsuhús. Lyfja also owns the subsidiary Heilsa ehf., which specialises in the import and distribution of food products, vitamins, cosmetics and general pharmaceutical products.

The sale process follows the approved rules of Lindarhvol ehf., which is fully owned by the state, and which place an emphasis on transparency, objectivity, non-discrimination and cost-effectiveness. Cost-effectiveness means that the highest price or market price is sought for the assets, following an open bidding process, which ensures transparency and non-discrimination among tenderers.

As of Thursday 9 November 2017, interested parties can contact the corporate advisory division of Kvika Bank and obtain a brief presentation of the company, a non-disclosure agreement and a fact sheet about the investor. The investors who fulfill the conditions to participate in the sale process will subsequently receive detailed sale documents about the company.

Interested bidders are invited to submit their non-binding bids before 16:00 hrs on Friday 15 December. Those who make the most favourable bids will be invited to continue participating in the sales process and will be given access to a virtual data room containing detailed data, a presentation of the company by the management of Lyfja hf. and will be offered the option of conducting due diligence on the company.

Interested parties are asked to contact the Corporate Advisory division of Kvika Banki by email at lyfja@kvika.is.