Faroese authorities approve takeover of Grant with full control

The Faroese Competition Authority has approved Varðin Group’s takeover of Grant, granting it full decision-making power in the company, Kringvarp Føroya reports.

The approval comes with the condition that Grant’s share capital will be reduced to zero before Varðin injects new capital. The authority stated that the takeover will not reduce competition in the Faroese market.

Varðin, along with Framherji and Kimbil, previously acquired Grant—then named H-dygd—in 2018 under a shared ownership structure.