Sp/f Orkufelagi? entered into a purchase agreement to acquire P/f Magn from Skeljungur hf. (ICSE:SKEL) for approximately DKK 610 million on November 30, 2021. Under the terms of transaction, Skeljungur will re-invest 23% of the total selling price of the transaction in Sp/f Orkufelagi?, i.e. DKK 141 million. Skeljungur will thereby acquire a 48.3% share in Sp/f Orkufelagi? through a listing of new shares in the company in the total amount of DKK122 million, in addition to loans in relation to the transactions in the amount of DKK 19 million. Teitur Poulsen is the chairman of the board of directors of Sp/f Orkufelagi?.Transaction remains subject to the approval of the Competition Authority in the Faroe Islands, which is the sole remaining reservation regarding the transaction. Up to the time of formal conveyance the operation of P/F Magn will remain included in Skeljungur?s consolidated accounts.