Kaupthing ehf unit Kaupskil ehf. sold a total of 5.34% of Arion banki hf.'s issued shares to a number of funds managed by four Icelandic fund management companies and two existing international shareholders of the lender.

Of the total, 2.8% went to existing shareholders Goldman Sachs Group Inc. and Trinity Investments Inc., while the remaining 2.54% were acquired by the domestic funds.

Kvika, Logos and White & Case advised Kaupthing on the transaction.