BBA // Fjeldco
The Icelandic law firm BBA//Fjeldco was established in 1998. It has offices in Reykjavík and London.
Highlights
BBA//Fjeldco was the lead Icelandic counsel for Marel as the recipient of a non-binding proposal from John Bean Technologies Corporation for the combination of the two companies. The firm’s role included drafting and providing input on structure and transaction documents, advice on disclosure requirements, and implications of the imminent offer on the conduct of the company’s business. The transaction was completed in January 2025.
The firm is currently advising European Climate, Infrastructure and Environment Executive Agency (CINEA) on the energy transition project WHISPER, which seeks to reduce emissions from the long-distance maritime industry. The firm is providing a legal review and classification of possible administrative, legal, and regulatory aspects of the project. The project is currently ongoing.
John Van de North joined as a partner on the M&A team from Goodwin in February 2024.
Testimonials - 2024/2025
Gunnar Thoraninsson, the lead partner, was exceptional on all local law elements of the deal including structuring, regulatory and M&A capital markets advice. Our transaction was complicated as it involved a lot of local Icelandic stakeholders and Gunnar's relationship with them and commercial advice was as valuable as his legal advice. He is an incredibly commercial and client-centric lawyer. - Capital markets
Gunnar Thorarinsson has strong domain expertise on local law aspects such as structuring the loan and M&A regulatory topics. However, he is also incredibly commercial and client friendly who was able to help us at critical moments with strategic topics around dealing with local stakeholders. - Capital markets
Key Clients
Marel, Alvotech, Arion Bank, Íslandsbanki, the Icelandic government, the World Bank, Reykjavik Geothermal, Environmental and Energy Agency of Iceland, Ministry of Foreign Affairs in Iceland, Energía Geotérmica de Canarias
Testimonials - 2023/2024
"Practical lawyers with good commercial insight and knowledge of Icelandic law." - Banking & Finance
"As joint counsel to the selling shareholder and the issuer, they worked seamlessly on a very tight timetable in the IPO (about three months!), coordinating with international counsel, underwriters and their counsel, us and the issuer. They were also very good at identifying 'boilerplate provisions' that need to be amended post-Brexit." - Capital Markets
"BBA//Fjeldco was extremely resourceful and solution-orientated, and able to navigate through tricky situations with valuable legal work." - M&A
"Einar Baldvin Arnason
is extremely personable and very persuasive. Gets along with everyone, even adversaries."
"Halldor Karl is an excellent lawyer with a strong legal instinct and business acumen. He is able to work through complex issues and provide valuable, practical and solution-orientated guidance."
"Antoine Lochet is solution-oriented and good listener."
“Asgeir Ragnarsson
has very good knowledge of the law and responsiveness.”
Juris
Juris is one of Iceland’s leading full-service corporate law firms based in Reykjavík. The history of the firm can be dated to 1953 but is currently a result of the mergers of the practices of a number of leading Icelandic lawyers between 2006 and 2011.
The firm’s expertise is market-leading in both financial and corporate and project development work in Iceland. The firm provides comprehensive corporate advice to clients situated in the country.
Highlights
Juris advised HS Orka in the refinancing of its debt through an amendment and restatement of a common terms debt platform as well as the conclusion of new financing agreements. Financing was provided by Icelandic and foreign banks and the placement of PP notes. The new financing is part of a green financing framework. The deal concluded in July 2024.
The firm advised Innviðir fjárfestingar II, an Icelandic infrastructure fund owned by a number of Icelandic pension funds, on its acquisition of the nursing home Seltjörn from the Seltjarnarnes municipality. The firm’s role included property due diligence, the preparation of an offer, incorporation of SPV, preparation of agreements between the fund and the property management company, and the negotiation and preation of a purchase agreement. The transaction concluded in April 2024.
Ingvar Ásmundsson and Hildur Þórarinsdóttir were both promoted to partner in 2024.
Testimonials – 2024/2025
Juris's team demonstrated expertise in navigating complex legal and financial landscapes. Additionally, their ability to communicate clearly and provide timely updates made the process smooth and efficient. - Banking & Finance
Simon Knight excels in providing clear and concise legal advice. Simon's proactive approach and timely communication ensures that all aspects are handled smoothly and efficiently. It is also a significant benefit that Simon is an attorney who has passed the bar in both England and Iceland, with a deep understanding of both jurisdictions, which adds immense value to his services. - Banking & Finance
Key Clients
Ísfélag, HS Orka, Dagar, Summa rekstrarfélag, Reginn, WPD International, Ísfélag, Skuggi 5
Testimonials - 2023/2024
"Juris is an excellent law firm." - Financial Restructuring
"They are flexible and responsive to our needs. They are very familiar with corporate law, EU/EEA issues, including state aid and competition law. Their quality of work and attention to detail is splendid." - Financial Restructuring
"The advantage Juris and their employees have from other legal firms I have worked with is that they are open-minded and solution-orientated. Something that is disappearing from legal firms these days." - M&A
"They give practical and useful advice and they know which questions are important for European companies." - Project Development
"Juris handled the structure change in a swift and professional way, guiding the board of directors step by step through a rather complicated process of change." - Restructuring
"Andri Arnason is a super-good manager and he has an extremely strong overview and knowledge of the issues related to my business."
"Halldór Jónsson has a very good understanding of corporate law. His communication skills are very good and he has a solution-orientated approach while being professional in his work."
"Halldór Jónsson can handle all business related to my market in one way or another."
"Simon Knight knows very well the needs of EU clients and has a very good understanding of infrastructure investments."
"Simon Knight is very strong in finance and in cross-border corporate matters. Simon is diligent, meticulous with high attention to detail and swiftly responds to any inquiries."
"Finnur Magnússon is extremely strong in EU/EEA matters and the interplay between Icelandic law and the EU Acquis. Finnur has also worked on matters related to investment law and has a depth of knowledge in investment law in general."
Lagahvoll
The Icelandic boutique law firm
Lagahvoll advises clients out of an office at the heart of Reykjavík.
In banking, the firm has experience of working with financial institutions on corporate and acquisition financings, as well as assisting on bond issuances and providing borrower side advice.
In corporate work, the firm advises on a host of M&A transactions, investments, start-ups and venture agreements. It is also capable of providing corporate support to clients with respect to agreements, corporate governance and restructuring. The firm is particularly strong in the venture and start up space.
Highlights
Lagahvoll advised Félagsbústaðir (Reykjavík Social Housing) on its entrance into the public markets with a bond issue with the aim of providing housing at a more affordable rate by issuing the first social bond in Iceland. The firm’s role included the preparation of ap rospectus for a bond framework, with issued bonds being listed on the Icelandic stock exchange. The project began in 2018 and continues into 2024.
Lagahvoll advised a client as an investor with regards to a second and third round of financing in the form of issuing a convertible bond and equity round. This project is ongoing.
Testimonials - 2024/2025
"Outstanding analytical skills and bespoke services." - M&A
"They are very professional and have a lot of knowledge." - Project development
"Daði Bjarnason provides an in depth analytical approach and very efficient service. Best in class." - M&A
"Jóhann Tómas Sigurðsson is knowledgeable and very professional." - Project development
Key Clients – 2024/2025
Dohop, Ísorka, Solid Clouds, Félagsbústaðir, Pikkoló
Testimonials - 2023/2024
"They are quick to get involved in complex issues and protect our interests efficiently." - Asset Finance
"Extremely deep and thorough knowledge of legal environment and market. Strategic thinking. Very quick and responsive." - Financial Service Regulatory
"Jóhann Sigurðsson is extremely smart, knowledgeable, quick and personable."
"Jóhann Sigurðsson is reliable and understands complex issues well."
Landslög
Icelandic boutique Landslög was established in 1971. The firm has an office in Reykjavík.
The firm provides banking advice to regional organisations. It also assists national courts with bankruptcy and restructuring cases having established relationships during the Icelandic financial crisis.
The firm’s capital markets offering is credible, with the practice frequently advising on the larger debt and equity transactions in the market.
The M&A practice regularly represented a mix of acquirers, sellers and target companies in such sectors as energy, fishing and real estate.
Highlights
Landslög advised the Icelandic Road and Coastal Administration (IRCA) on the development of major traffic structures which are in different phases and locations around Iceland. The construction will be put out to tender on the basis of the Public Procurement Act, and different tender methods have been used in the procurement process. This project is ongoing.
The firm advised investment company Infranity on proposed long-term financing and Arion Bank on operational financing for Borealis Data Centre, which builds sustainable data centres using renewable energy. This project had a total value of $152 million ad closed in February 2025.
Key Clients
The Icelandic Road and Coastal Administration (IRCA), the Prime Minister of Iceland and other ministries, Syn (Vodafone Iceland), Islandsbanki, Icelandic Prime Contractors (IAV), Alma, Icelandic Regional Development
Lex Law Offices
The leading Icelandic law firm
Lex Law Offices was founded in 1959. It operates out of Reykjavík.
The firm is prominent in Iceland across the financial and corporate space.
Highlights
With one of the most experienced banking and finance teams in the market, the firm advises financial markets participants on a plethora of transaction types, whether large project and acquisition finance mandates, or large financial restructurings and capital market issuances.
The firm is also strong in M&A, where it represents clients on a mix of high-value acquisitions, mergers and financial investments across a broad assortment of sectors of the Icelandic economy.
Testimonials - 2024/2025
"Fanney Frimannsdottir is an excellent lawyer."
"Guðmundur Ingvi Sigurðsson is an excellent lawyer."
Key clients - 2023/2024
Key clients include Alfa framtakArdian France, Arion bank, Baader, Carbfix, Costco Wholesale Iceland, Digital Bridge, Fossar markets, Iceland Seafood International, Islandsbanki, Kirkbi, Kría Investment firm, Landeldi, Landsbankinn, PCC BakkiSilicon, Reginn, Reykjavik Energy, Síldarvinnslan, SKEL investment firm, Treble Technologies, United Arab Emirites, Viska Digital Assets.
Research period review: 33rd edition (2023/2024)
In terms of finance and banking the firm was focused on asset financing and asset acquisitions. The firm also advised on some notable refinancings. Most of the firm's clients in the field have come from the investment management sector.
In terms of capital markets work, the firm saw a lot of mandates on the equity side. This was mainly in the form of private placements and secondary share offerings.
The firm has also continued its activity in investment funds.
In the field of M&A, the firm worked on a lot of mandates from companies in investment management, technology and telecommunications as well as industrial and manufacturing.
In project development the firm was active in the energy sector, as well as the fisheries and aquaculture sector.
Deal highlights: 33rd edition (2023/2024)
The Coda Terminal Project
Rotovia $67 million financing
PCC BakkiSilicon $350 million refinancing
Testimonials - 2023/2024
"Eva Margrét Ævarsdóttir was extremely helpful, responsive and provided valuable insights."
"Eva Margrét Ævarsdóttir is knowledgeable, provides helpful insights and comments, good communicator and responsive."
"Stefan Orri Olafsson is an excellent lawyer with exemplary skills in providing practical and solution-orientated advice."
