The Icelandic law firm BBA//Fjeldco was established in 1998. It has offices in Reykjavík and London.
Focusses / specialisms
The firm’s banking and finance practice has vast experience in advising financial institutions and borrowers on complex, multi-jurisdictional financing deals. It is recognised for its advice on capital-raising and financing strategies in relation to acquisitions, takeovers and reorganization projects.
In M&A the firm is known for its strength in cross-border M&A work, where it acts across the board for buyers, sellers and financing parties. The team has advised the lion’s share of the largest companies in Iceland on various corporate matters and has played a major role in most of the significant M&A transactions in recent years.
The project development practice has vast experience in the energy sector, where it has the capacity to support various aspects of projects all over the world. The firm also advises energy companies in Iceland in securing terrain for geothermal research and on power purchase and project agreements. The projects team is similarly strong in the PFI and PPP space where it has a long track record in advising public sector clients.
Key clients
Key clients include The World Bank,
United Nations Development Program, Icelandic Ministry of Foreign Affairs, Icelandic Ministry for Environment, Energy and Climate, The European Climate, Infrastructure and Environment Executive Agency (CINEA), Arctic Green Energy Innergex Énergie Renouvelable, Vauban Infrastructure Partners, Macquarie Infrastructure and Real Assets Europe (MIRA),
Asian Development Bank (“ADB”), Digital 9 DC Limited, a UK fund managed by Triplepoint, Lucid Trustee Services Limited,
ODDEG - Office Djiboutien de Développement de l'Energie,
Reykjavík Data Center hf., Reykjavík Geothermal, Digital 9 DC Limited, Turkish Development Bank, HS Orka (HS Energy)
Research period review: 33rd edition (2023/2024)
In banking and finance the firm has been focusing on acquisition finance, long term financing and financial restructurings. Their major clients in the field have mainly been private equity managers and financial institutions.
In capital markets field, the team have seen a lot of work on the equity side with the firm receiving a lot of mandates for complex dual listings. In this field, the firm acted on behalf of several important clients from the industrials and manufacturing sector.
The M&A team recently received important mandates from companies in the energy and retail sectors, fishing sector and food production sector.
In project development, the firm was active in the renewables energy sector, particularly in the field of geothermal energy projects. Regulation is one aspect of energy development law where BA//Fjeldco has clearly been excelling during this research period. The firm has also received important mandates relating to infrastructure and real estate development projects.
Deal highlights: 33rd edition (2023/2024)
Marel $540 million acquisition of Wenger
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Practical lawyers with good commercial insight and knowledge of Icelandic law."
Capital markets
"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."
M&A
"BBA//Fjeldco was extremely resourceful and solution-orientated, and able to navigate through tricky situations with valuable legal work."
Einar Baldvin Arnason
"Extremely personable and very persuasive. Gets along with everyone, even adversaries."
Halldor Karl
"Halldorsson, Halldor 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
"Solution-orientated and good listener."
Asgeir Ragnarsson
“Very good knowledge of the law and responsiveness.”
