ISI signs letter of intent to sell UK business

Following on from its November 2022 announcement it plans to exit the U.K. value-added seafood market, Reykjavik-headquartered Iceland Seafood International (ISI) has signed a letter of intent to sell the loss-making business to an unnamed buyer.

“Further to Iceland Seafood’s announcement on 17 November, Iceland Seafood has today signed a letter of intent (LOI) with a respected industry player to sell its subsidiary Iceland Seafood U.K.,” the company said in a release. “The LOI is a legally non-binding document, but its provisions will serve as key terms in the event of the potential transaction. The parties have agreed to run a swift due diligence process with the aim to complete a binding agreement before end of December" ... 

Photo courtesy of Iceland Seafood International