Iceland

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 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."

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."

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 

KPMG Law is an integral part of the global KPMG network formed in 1987, with close to 3,000 lawyers in about 80 jurisdictions.

Focusses / specialisms 

The financial and corporate practice of the firm involves investment funds and M&A transactions. The firm advises clients across a plethora of industries, especially technology, investment management and real estate,on fund formation and private acquisitions.

Key clients 

Key clients include ALM Verðbréf, ALP, Activity Stream, Arctic Hydro, Arctica Finance, Ardian Infrastructure Fund, Arion banki, Blue Lagoon, Controlant, Eimskip, Eyrir Ventures, Frumtak Ventures, GRID, Gavia invest, Genesis Mining, Genís, HS Orka, Heimstaden Iceland, IKEA, Kaupfélag Skagfirðinga, Kvika banki, Kvika eignastýring, Lagerinn, Orkuveita Reykjavíkur, PayAnalytics, Pega Mining, Reginn, StefnirÍslandsbankiÍslandssjóðirÞingvangur.

Research period review: 33rd edition (2023/2024)

During the research period KPMG Law Iceland focused on the capital market and M&A fields.

Within capital markets the firms have worked on a lot of secondary share offerings and a few bond offerings. In the M&A field KPMG has mostly been active in private acquisitions. The firm's clients have largely been from the investment management sector.

Deal highlights: 33rd edition (2023/2024) 

Ardian Infrastructure Fund’s $477 million acquisition of Mila

Gavia Invest’s $17,600,000 acquisition of roughly 16% share in Sýn

SÍL’s $64 million issuance of bonds and acquisition of loan portfolios

Client feedback: 33^rd edition (2023/2024)

Private equity

"Professionalism and quick turnaround of documentation."

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.

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."

Established in 1907, Logos is the oldest law firm in Iceland. The firm currently operates offices in Reykjavík and London.

Focusses / specialisms

The firm is recognised for its strengths across several financial and corporate categories.

In banking it is strong in finance work and frequently advises investment funds, pension funds and international investors.

In the capital markets area, the firm is often involved in Iceland’s significant stock market listings.

The M&A team is extremely visible in the Icelandic market, and regularly works on the country’s largest public M&A transactions.

The firm also has a highly experienced project development team which frequently supports marquee domestic and international projects.

Key clients

Key clients include Arion Banki, Alfa Framtak, Archer Norge, Atome, Barclays, Berjaya Corporation Berhad, Blackrock, Brim, Citigroup, Climeworks, Crowberry Capital, Deutsche Bank, Frumtak Ventures, Haugen Gruppen Nordic, Hintsa Performance, Icelandair Group, Icelandic State Financial Investments, Íslandsbanki, Íslensk verðbréf, J.P. Morgan, Kaupthing, Kerecis, Landsbankinn, Landsnet, Laxar eignarhaldsfelag, Laxar Fiskeldi, Marel, Morgan Stanley, New England Seafood International Limited, Norvik, Origo, Orkla, Sidekick Health, Síminn, Sling, Storytel Sweden, Verne Global, Vex, Vörður Insurance, 1912.

Research period review: 33rd edition (2023/2024)

In banking, the firm’s focus was  mainly on asset finance and investment fund foundation. In this field the firm attracted clients mainly from the financial institutions sector.

In the capital market sphere, the firm engaged in an important private placement of shares by Alfa Framtak.

The firm’s M&A practice focused on private acquisitions and asset acquisitions. The firm’s clients in this field have come mainly from the technology and telecommunications sector.

In terms of project development work, the firm was active in the energy sector as well as the construction and materials sector.

Deal highlights: 33rd edition (2023/2024)

Sp/f Orkufélagið $74 million financing

Hecate Wind offsore wind energy project

Client feedback: 33^rd edition (2023/2024)

Bank lending

"Overall great knowledge in the area of loan and pledge agreement. Great communication, customer service and work attitude. Knowledge. Great resource for the client to understand all aspects in loan terms and pledge agreement and provide valuable insights on the loan market in Iceland. Logos always acted in the client's best interest. Great problem-solving in complex tasks and always met deadlines."

"Professional services (above average in the Icelandic jurisdiction). Excellent accessibility and swift response time. Logos has many experienced professionals, experts in diverse business sectors. Advantage that Logos is a 'full service' law firm. Logos is an old and large law firm with a good reputation. Proactive in informing clients of trends and legal changes. Hosting informative events."

M&A

"Knowledge on matters, solution-minded."

"Excellent knowledge, quick response time and ability to negotiate highly complex issues related to M&A transactions."

"Very strong performance throughout the entire process on all aspects – strong 'thought partner', short turnaround time, and high quality of work."

Private equity

"Highly capable, robust and productive team."

"Logos has a great team of lawyers with diverse focus so they can solve all matters requested within the firm giving great comfort for us as a client. Also, Logos tends to give quick feedback and you always feel you are being taken care of."

"Excellent strategic advice as well as documentation of the transaction."

"Access to a wide range of experts, in particular and different fields, and a positive direct personal relationship."

"Great in negotiations and creative solutions seeing what can be done not what can not be done."

Project finance

"Working so well with their team related to the various aspects on the complete projects, including legal, tax and financial issues."

"They have good experience in construction contracts and related matters and produced the work quickly as needed."

"Logos has expertise, meticulous attention to detail, and impressive creativity. They provided practical solutions to the most challenging aspects of my case, and their creative approaches helped us to structure the contract with a very flexible approach."

Restructuring

"They are well-orientated locally and provide a professional service."

Einar Baldvin Axelsson

"Excellent knowledge on the legal marine and shipping issues."

Benedikt Egill Árnason

"Solution-orientated, get's the right people involved as needed, provides valuable input."

"Smart, creative, solution-orientated, hard-working, available."

"Good communication, works effectively and meets deadlines, experienced in the relevant field."

"Quick and adaptive for the specific unchartered situations accompanied with deep experience in the field, creative in looking for out-of-box situations."

"Thorough, precise, great to work with and provides excellent feedback quickly."

"Benedikt is our main adviser and has great knowledge in loans and pledge agreement, great communication skills and always acts in our best interest."

Erlendur Gislason

"Responsiveness, legal knowledge, problem-solving."

Guðbjörg Hjartardóttir

"Very good corporate finance lawyer with excellent overall knowledge in the field."

Christopher Jackson

"Responsiveness, legal knowledge."

Kristofer Jonasson

"Great to work with Kristofer, takes great care of us as a client, thinking two steps ahead and looking to solve future issues in the present. Great communication skills and excellent knowledge base."

Þórólfur Jónsson

“Highly skilled professional. Conscientious and ambitious person. Very likeable.”

Helga Melkorka Óttarsdóttir

"Experienced, professional and balanced approach in solving problems, organised, delivers in time (allowing headroom to review opinions/reports in time before due dates), has perseverance in complicated matters."

Hlynur Olafsson

"Hard-working, smart, solution-orientated, available."

Óttar Pálsson

"Likeable, very good listener, razor-sharp and a good negotiator."

Freyr Snæbjörnsson

"Very approachable and inviting. Personal relationship that builds trust."

Gunnar Sturluson

"He is an experienced lawyer in Iceland. I also appreciate that he is more direct in his advice than many lawyers I work with in other countries."