Syn — M&A Activity 2021

Dec 14, 2021

Sýn hf.: Sale of Sýn´s hf. passive mobile infrastructure - closing

Sýn hf.: Sale of Sýn´s hf. passive mobile infrastructure - closing

Closing in relation to the sale of Sýn´s passive mobile infrastructure to DigitalBridge Group Inc., previously Colony Capital Inc., took place earlier today. The final purchase price, wich as been paid by funds affiliated with DigitalBridge, amounts to ISK 6,94 billion and the transaction covers nearly 200 sites. The purchase price amount is slightly lower than previously announced mainly due to slight decrease in number of sites. The  gain of the transaction will thus be nearly ISK 6,5 billion. The treatment of the gain, i.e. how large proportion of the profit will be recognized through the P/L, is not finally decided upon.  In paralell to the transaction a long term service agreement will secure Sýn´s continued access to the passive mobile infrastructure. All active equipment will remain with Sýn hf.

Sýn will hold a Capital Markets Day on 13 January 2022 at 16:00 at Suðurlandsbraut 8, 108 Reykjavík.