11-Feb-2021 10:07 PM
Sale of remaining 25% share in Icelandair Hotels
Direct News Source
Icelandair Group has reached an agreement with Berjaya regarding sale of its remaining 25% share in Icelandair Hotels. The purchase price for the share is USD 3.4 million and will be payable at delivery of shares when conditions of the agreement have been fulfilled. The book value of the share is USD 13 thousand. Following the transaction, Icelandair Hotels will work on rebranding its hotels and eventually cease the usage of the Icelandair trademark.
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This press release was sourced from Icelandair Group on 11-Feb-2021.