Kvika banki hf.: The Icelandic Competition Authority approves the acquisition of GAMMA Capital Management hf.

Reykjavík, ICELAND

Today, 6 March 2019, the Icelandic Competition Authority approved Kvika banki hf.'s (Kvika) acquisition of GAMMA Capital Management hf. (GAMMA).

Kvika's meeting of shareholders, held on 18 December 2018, had previously agreed to the acquisition of all issued share capital of GAMMA. The Icelandic Financial Supervisory Authority has also approved Kvika's ownership of a qualifying holding over 50% of GAMMA's share capital, in accordance with Article 42(2) of Act No. 161/2002 on Financial Undertakings.

Kvika's acquisition of all issued shares in GAMMA is still subject to the approval of the Financial Conduct Authority of the UK.