Hagar hf to acquire shares in P/F SMS, CEO Niels Mortensen to remain in position

Icelandic company Hagar hf, listed on the Icelandic stock exchange, is set to acquire all shares in P/F SMS.

In a press release, SMS announced that Hagar and the shareholders of P/F SMS have agreed on the terms of the sale, which the parties have signed in a letter of intent.

Niels Mortensen serves as the CEO of SMS and will continue in this role following the acquisition.