2022-07-01 00:21:00 CEST

2022-07-01 00:21:02 CEST


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Arion Bank hf. - Inside information

Arion Bank: All conditions met in Rapyd's acquisition of Valitor - acquisition finalized in the coming days

Following the regulatory approval given by the Icelandic Competition Authority on 23 May and the approval of the Financial Supervisory Authority of the Central Bank of Iceland today, all the conditions in the agreement between Arion Bank and Rapyd on the latter’s acquisition of Valitor, which was announced on 1 July 2021, have now been met. The acquisition will therefore be finalized in the coming days.

Arion Bank is expected to make a profit, minus costs, of approximately ISK 5.5 billion at the current exchange rate.