Changed ownership of HS Orka
A series of transactions related to the ownership of HS Orka was recently completed. Jarðvarmi slhf, a company owned by 14 Icelandic pension funds, which has for a long time held a 33.4% stake in HS Orka, has increased its stake to 50%.
As part of the transactions, Jarðvarmi temporarily acquired all of the shares of HS Orka, including a 54.3% stake from Innergex Renewable Energy and 12.3% stake from FORK investment fund. Jarðvarmi then divested a 50% stake to Ancala Partners, the infrastructure fund manager, on the same terms as it acquired the shares. Ancala Partners is now the ultimate owner of 50% of HS Orka through its 100% ownership of Magma Energy Sweden AB.
Following the transactions, a new Board of Directors of HS Orka has been elected. The board is comprised of:
Gylfi Árnason, Chairman
Kurt Håkansson, Vice Chairman
Anna Skúladóttir, board member
Heike Bergmann, board member