Kári Ólafsson

Practice area
  • Corporate law
  • Banks and financial undertakings
  • Securities law
  • Contract law
  • Obligation law
  • Property law
  • Employment law
  • Contractor law

  • District Court Attorney, 2012
  • University of Iceland, Mag. Jur., 2012
  • University of Copenhagen, Exchange Studies, 2009

Icelandic English
Recent cases
Acquisition and development of Orkureitur neighbourhood in Reykjavik by Safir byggingar ehf.

BBA//Fjeldco acted for Safír byggingar ehf., a real estate development company and constructor, in the ISK 5,1 billion acquisition of “Project Orkureitur”, a new BREEM certified sustainable neighbourhood in Reykjavík covering 40,000 m2, including 436 apartments, plus shops and services. BBA//Fjeldco acted as legal counsel to Safír byggingar ehf. in relation to the acquisition and in respect of all applicable areas in both the acquisition and future development of the area, including by conducting a due diligence review of the area, negotiating and documenting the share purchase agreement agreements, finance documents, structuring and drafting subscription and share purchase agreements for investors as well as all corporate matters with regards to the transaction and the ongoing operations of the company. BBA//Fjeldco also advised Safír byggingar ehf. on financing in relation to development which was conducted both via new equity from investors and third party bank loans. Furthermore, BBA//Fjeldco advises Safír byggingar on an ongoing basis with all corporate, employee and planning matters in relation to the project.

Trading has now commenced with shares of Íslandsbanki hf. following a successful IPO

BBA//Fjeldco advised Icelandic State Financial Investments (ISFI) and Íslandsbanki hf. relation to the IPO, which is the largest IPO in history of Iceland and the largest European bank IPO since 2018.

Prior to the IPO Íslandsbanki was wholly owned by ISFI, on behalf of the Treasury of Iceland. ISFI will hold 65% of the share capital of Íslandsbanki hf. following the offering, assuming full exercise of the overallotment option.

The team was led by partner Einar Baldvin Árnason, partner Bjarney Anna Bjarnadóttir, senior associate Sara Rut Sigurjónsdóttir, associate Sigvaldi Fannar Jónsson and partner Kári Ólafsson.

Merger between TM hf., Lykill fjármögnun hf. and Kvika banki hf

 BBA//Fjeldco acted as the legal advisors for the merging entites, i.e. TM hf., Kvika banki hf. and Lykill fjármögnun hf. throughout the merger process, which covered all aspects of the deal, including but not limited to drafting of transaction documents, due diligence, competition matters, tax matters, regulatory issues in relation to the Financial Supervisory Authority and NASDAQ OMX Iceland. This is by far the largest and most high profile merger in Iceland in recent years,involving three different types of financial undertakings, an insurance company (TM hf.), a commercial bank (Kvika banki hf.) and a leasing company (Lykill fjármögnun hf.).

Acquisition by Langisjór ehf., of all (100%) of shares issued by Alma íbúðafélag hf.

BBA//Fjeldco provided legal advice to Langisjór ehf. with regards the Langisjór´s acquisition of all shares in Alma íbúðafélag hf. including legal and tax due diligence, negotiating and drafting the share purchase agreement and financing.

Alma íbúðafélag hf. is one of the countries´ largest real estate company which owns and operates over 1100 residential apartments located at the capital area and all around the country. Langisjór ehf. is the parent company of various companies in the food productions and distribution sector including Mata hf., Matfugl ehf., Síld og fiskur ehf., and the investment company Brimgarðar ehf.

Acquisition of Icelandic Iberica

BBA//Fjeldco acted for Iceland Seafood in relation to the acquisition of Icelandic Iberica, one of the leading exporters of fish.  This was one of the biggest takeovers for a listed entity in 2018.


BBA // Fjeldco acted as the legal advisor to the investorswhich acquired 50% of the issued share capital of Nova, one of the leadingtelecommunication company in Iceland. BBA // Fjeldco further acted as the leadlegal advisor in relation to the financing of the transaction.


BBA // Fjeldco acted as the legal advisor to the investorswhich acquired KORTA, one of the leading payment service providers in Iceland.

KEA Hotels

BBA // Fjeldco acted as the legal advisor to the investorswhich acquired Keahotels, one of the leading hotel groups in Iceland. BBA //Fjeldco further acted as the lead legal advisor in relation to the financing ofthe transaction.

Legal advisor in relation to the Financial Supervisory Authority’s qualification assessment for CEO’s and board members

BBA//Fjeldco has assisted Kvika Bank hf., TM hf. Rapyd Europe hf., Icelandic Securities hf.,Lykill fjármögnun hf., Kvika Asset Management hf., Rekstrarfélag Virðingar and other regulated entities in the preparation of the Icelandic Financial Supervisory Authorities qualification assessment which all CEO’s and board member must undergo.

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