Exista acquires shares in Storebrand Skip to content

Exista acquires shares in Storebrand

Icelandic financial services company Exista yesterday bought 5 percent of the shares in the Norwegian insurance and financial services company Storebrand and has an option to buy another 5 percent, according to national radio RÚV.

Storebrand’s estimated value is ISK 200-300 billion (USD 3.2-4.8 billion) so the shares Exista has secured are worth ISK 20-30 billion (USD 320-480 million). After the acquisition was announced share prices went up 7 percent.

Analysts believe that Icelandic investors plan to acquire the majority of Storebrand’s shares. Kaupthing Bank already owns one fifth of the company but Exista is the largest shareholder of Kaupthing.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article