IFLR1000 Reviews

Financial and corporate
BBA // Fjeldco

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 Kvika bank, Íslandsbanki, Arctic Green Energy, Asian Development Bank (ADB), Landsbanki, Arion Bank, European Investment Bank (EIB), Reykjavík Data Center, Lucinity, Strengur, KEA hotels, Takumi International, Fredensborg, Lykillfjármögnun, Icelandair Group, Reykjavík Geothermal, World Bank/ESMAP, United Nations Development Program and ODDEG 


Research period review: 32nd edition (2021/2022) 

In banking and finance the firm notably advised DNB Bank and Arion Bankin relation to €65 million term and revolving credit facilities provided to Arnarlax. 

The firm was visible in equity capital markets where it advised on cross-border IPOs and private placements. A notable example of the firm’s work is the legal advice to Fly Play in relation to its private placement and subsequent public offering and listing on Icelandic stock exchange. 

The M&A team was highly visible in the market during the research cycle, advising on both the buy and sell side of some of the most significant mandates in Iceland. One highlight for the team involves its work on the highly complex $700 million three-way merger between TM, Lykillfjármögnun and Kvikabanki. 

In projects, the firm advised international developmental institutions such as World Bank/ESMAP and United Nations Development Program (UNDP) on legal and regulatory requirements for harnessing geothermal energy in overseas locations. The firm assisted Reykjavík Geothermal on the development of geothermal reservoirs in Ethiopia. 


Deal highlights: 32nd edition (2021/2022) 

Arnarlax €65 million term and revolving credit facilities 

Bain Capital $66 million acquisition of 16.6% share capital of Icelandair 

Bentley Systems acquisition of Vista Data Vision 

Íslandsbanki XICE IPO 

Rapyd Financial Network $100 million acquisition of Valitor 


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.


Focusses / specialisms

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.


Key clients

Key clients of the firm include Summa Rekstrarfélag, The Icelandic State, Ísfélag Vestmannaeyja, Árvakur, Reginn, Íslandsbanki, Kvika banki, Aptos, and HS Orka.


Research period review: 32nd edition (2021/2022)

During the research period, the firm has been very active in the financial and corporate, and project development areas.

In the corporate space, the team kept busy advising large-scale financings and refinancings, real estate financings, project finance, mergers, private acquisitions, divestments, reverse takeovers, and financial restructuring works often advising investors, lenders, and merger parties.

The project team was preoccupied with project development transactions for clients in the real estate, energy, and infrastructure sectors.

The firm promoted partner Hólmfríður Sigurðardóttir and brought in consultant Þórarinn Þorgeirsson from Drangi in 2021 following the departure of Consultant Katherine Nichols.


Deal highlights: 32nd edition (2021/2022) 

Míla ehf KR$21 billion refinancing

Skuggi 6 residential real estate development project


Client Feedback: 32nd edition (2021/2022)  

Bank lending: Lender side

“Quick to identify the big picture, key issues (legal and commercial) and negotiating points. Excellent drafting when it comes to bespoke terms and structures, both in Icelandic and English. Clear and concise advice on matters of opinion. Approachable, responsive and good to communicate with.”


Financial restructuring

“Juris is an excellent law firm. They are flexible and very responsive to our needs. Their quality of work is splendid and their attention to detail is very good.”

“Juris is an excellent law firm. They are flexible and responsive to our needs. They are very familiar with corporate law and EU/EAA issues, including state aid and competition law. Their quality of work and attention to detail is splendid.”


Financial services regulatory

“Great work, good knowledge, good ethic.”



“They have done many cross-border transactions and therefore have excellent experience to work on matters needed and/or bring in local experience of quality in the region of interest.”

“They are very strong in: M&A, DD, Competition Law and dealing with Competition Authorities. Fishing rights and all aspects of the fishing and fish processing. business. we are in fishing, processing, fish oil production, wholesalers (e.g. importers of P&G, Colgate Palmolive, Phillip Morris, GE Healtj etc.) so they need to have a very broad service field, and they have.”


Project development

“When needed they were available with short notice, responded timely and had good understanding in the subjected matter. The biggest asset was probably how easily they built trust with all parties”


Ingvar Ásmundsson

“Great eye for details and drafting of bespoke terms, in Icelandic and English. Excellent legal and commercial knowledge. Approachable and good in communications.”


Halldór Jónsson

“He has worked internationally for 20 years and therefore can handle many cross-border needs.”


Simon David Knight

“He is exact, professional, keeps deadlines and a problem-solving likable guy.”

“Simon is very strong in finance documentation and in corporate matters, including cross border. Simon is diligent, meticulous with a high attention to detail. He responds swiftly to any inquiries and is very solution oriented.”

“Simon 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

“Sharp and comprehensive knowledge and very quick in building knowledge on new tasks. The project we work on was fairly new for both of us in the start however we have built a team and knowledge which has proved very successful. He is good at building personal relationship with the client and always positive to explore ideas and new tasks.”

“Always positive and creative in searching for solutions and quick and informative reaction on any feedback. Very professional.”


Sigurbjörn Magnússon

“He is very effective and respected. I have used him as my corporate and legal adviser for 25 years.”


Stefán A Svensson

“Bright, smart, well read, good attorney. Has a positive presence during meetings and is quick to work out the things that matter.”



The Icelandic boutique law firm Lagahvoll advises clients out of an office at the heart of Reykjavík.


Focusses / specialisms

Lagahvoll has strengths in banking and M&A.

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 startup space.


Key clients

Key clients include Dohop, Gleðipinnar, Carbon Iceland, Félagsbústaðir, Múlakaffi, Beka and Vistbyggð.


Research period review: 32nd edition (2021/2022)

During the research cycle the firm was active in debt capital markets and banking, with a distinct focus on advising clients on transaction with a green or social focus. One notable example for the firm’s work in this area is its ongoing advice to Félagsbústaðir (Reykjavík Social Housing) with respect to its IKr50 billion first social bond in Iceland.

In M&A the firm was involved in a mix of corporate and transactional work to combination of buyers, targets and investors including mergers, acquisitions and financial investments.


Deal highlights: 32nd edition (2021/2022)

Félagsbústaðir IKr50 billion social bond issue

REON acquisition of 70% shares in Hugfimi

Vistbyggð project financing


Client feedback: 32nd edition (2021/2022)



"Organised, available and on the ball."


Project development : Energy

"They have done well in every field we have used their service."


Dadi Bjarnason

"Organised, available, responsive and on the ball."


Jóhann Tómas Sigurðsson

"He is very professional."



Icelandic boutique Landslög was established in 1971. The firm has an office in Reykjavík.


Focusses / specialisms

The firm is best known for transactional work and is regularly involved in the market’s high-end deals.

It 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.


Key clients

Key clients include Arctic Fish, Syn (Vodafone Iceland), Samkaup, Isavia, DeCode Genetics, Icelandic Prime Contractors, Frumtok, Curio and Hagar.


Research period review: 32nd edition (2021/2022)

The firm was also active in equity capital markets, where it advised Arctic Fish as a local counsel on its £51 million IPO on Euronext Growth Oslo and AGR Dynamics on issuance of new shares.

In M&A, the firm notably advised on mergers and acquisitions by providing legal advice on purchase agreements and competition matters with assistance on liaising with Icelandic Competition Authorities on such deals.


Deal highlights: 32nd edition (2021/2022)

AGR Dynamics £3.8 million share capital increase

Arctic Fish Euronext IPO


Client feedback: 32nd edition (2021/2022)


Banking and finance

"Professional and efficient."


Financial services regulatory

"Efficient, quick to respond, deep knowledge of real estate laws and market. "


Grimur Sigurdsson

"Professional and quick to handle issues."


Hildur Yr Vidarsdottir

"Direct, tough, efficient, fast to respond, good problem-solving skills. "

Lex Law Offices

The leading Icelandic law firm Lex Law Offices was founded in 1959. It operates out of Reykjavík.


Focusses / specialisms

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.


Key clients

Key clients include Arion bank, Islandsbanki, Reykjavik Energy, Costco Wholesale Iceland, Orkuveita Reykjavíkur (Reyjavík Energy), Landsbanknn, DNB Bank, Eksportkreditt Norge, Nasdaq CSD Iceland, Síldarvinnslan, Tryggingarsjóður innstæðueigenda og fjárfesta (TIF) and Minister of Industry and Innovation.


Research period review: 32nd edition (2021/2022)

In banking and capital markets the firm’s involvement was broad, covering a wide spectrum of lending, regulatory, restructuring and issuance work. Its involvement in the space focuses mainly on advising a large Icelandic utility company on large loan transactions.

The firm was active in investment funds, namely in the fund formation area.

The firm’s M&A practice was highly visible during the research cycle. It typically advised domestic and foreign buy side clients on large private acquisition transactions for the Icelandic market.

Counsel Eva Margret Aevarsdóttir joined the firm while Partner Gunnar Viðar departed the firm during the research period.


Deal highlights: 32nd edition (2021/2022)

BAADER Beteiligungsgesellschaft acquisition of 60% in Skaginn 3X Holding

Digital Bridge IKr13 billion acquisition of 400 passive telecommunication infrastructure in Iceland

Coda terminal IKr100 million project financing


Client feedback: 32nd edition (2021/2022)


Bank lending : Lender side

"Excellent knowledge and advice in connection with sustainable bank lending."


Financial restructuring

"Lex employees were very thorough and handled our case with a high level of professionalism. We felt like we were in good hands the whole time. High degree of flexibility - taking calls and emails at odd hours was no problem, which is something we appreciate and needed in this process. "


Financial services regulatory

"They are very quick and responsive. They have a strong knowledge in their field."



"Committed, accessible and very dedicated adviser."


Eva Margrét Ævarsdóttir

"Excellent knowledge of sustainability. Good legal and sustainable advisory. Accurate, efficient and good time management."


Fanney Frímannsdóttir

"She's a fantastic lawyer, very thorough, knowledgeable, reliable and exact. "


Örn Gunnarsson

"He is very strong in bringing the right capabilities to the table and is overall a problem solver. Very quick to respond and decisive on legal matters."


Guðmundur Sigurðsson

"Very focused, pragmatic and dedicated – good accessibility."



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 Marel, Arion Bank, Landsvirkjun, Icelandair Group, Haugen Gruppen Nordic, Brim and Verne Global.


Research period review: 32nd edition (2021/2022)

The banking practice completed a high number of financing and refinancing transactions, advising both lenders and borrower side clients. The firm was broadly active in lending work, including acquisition, venture and project financings. It was also active in the refinancing space.

In the capital market sphere, the firm notably worked on the initial public offering and listing of Íslandsbanki on Nasdaq Iceland and green bond issue.

The firm’s M&A practice continued to advise on some of the significant deals in the market, such as, for example, the sale of 100% shareholding in Míla to Ardian by Síminn.

In project development work, the firm worked predominantly in the restructuring space, supporting developers in negotiations with municipalities.

The firm was active in the restructuring space, where it notably advised on the financial restructuring of Míla.


Deal highlights: 32nd edition (2021/2022)

Ardian IKr78 billion acquisition of Míla

Íslandsbanki XICE IPO

Landsvirkjun $150 million senior unsecured notes issue

New England Seafood International acquisition of 25% shareholding in AG-Seafood

New England Seafood International acquisition of 60% shareholding in IceMar


Client feedback: 32nd edition (2021/2022)


Asset finance

"Very structured and organised. Experienced team that has the knowledge. Well-drilled team."


Bank lending : Lender side

"Consistency, quick response, deep understanding of our business, high level of quality control."


Banking and finance

"Experience and competence."

"Very knowledgeable."


Investment funds : Private equity funds

"Professional and thorough."



"Understand our business incredibly well and are able to help at all levels of operations, from strategic, capital to day-to-day legal support."

"They are very aware of all market and terms developments."

"High level of ability and knowledge to handle all aspects of a complex and challenging transaction. Quick, committed and highly professional service. "

"Follow up."


Private equity

"They are professional and have standards. They worked extremely hard and were willing to go the extra mile at times it was highly needed. "


Project development : Infrastructure

"They are quick to respond, provide good feedback and are easy to communicate with. "


Project finance

"Extremely well organised team with the right person for each aspect of the project: tax, corporate, shareholders agreement."


Restructuring : Corporate

"They have been serving us for many years and have extensive knowledge of our business."


Ólafur Eiríksson

"Competence, experience and communication."


Hjördís Halldórsdóttir

"Always helpful, always willing to get into the detail."


Halldór Brynjar Halldórsson

"Quick to answer, knowledge of our business and of the legal environment."


Guðbjörg Hjartardóttir

"Well informed."

"Very positive both for handling small projects up to more complex. All solved and dealt with professionally."

"Excellent knowledge in corporate finance, shareholders agreements and delegation for other experts like tax experts when needed."

"She is really good in her field. Provides quick and thorough feedback and always meets her deadlines."


Þórólfur Jónsson


"Highly skilled and seasoned lawyer and dealmaker. Is the one to point to on negotiations."


Helga Melkorka Óttarsdóttir

"Highly qualified in the area of expertise. "


Óttar Pálsson

"Consistency, quick response, deep understanding of our business, high level of quality control."


Freyr Snæbjörnsson

"Hard-working and technically good. Good communications. "


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 Arion BankHeimstaden, Arctica Finance, Iðunnframtakssjóður, ALM Securities, ÍslandsbankiÍslandssjóðir, VEX, StefnirKvika Bank and Reginn. 


Client feedback: 32nd edition (2021/2022)  

Private equity 

“They were very thorough in all their work and always on call. Did a very good job in all aspects of the project.” 

“Reliable, knowledgeable, trustworthy.”