Frozen-food retailer Iceland Foods has reportedly begun reorganising its corporate structure and reordering its balance sheet as the company prepares for a change in ownership.

According to a report in The Daily Telegraph, citing an unnamed source, Iceland has transferred a GBP286m (US$462.6m) merger reserve to an intermediate company and reordered three different holding companies.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

A spokesperson for majority owner Landsbanki confirmed today (14 March) that the Icelandic bank is still intent on selling off its 67% stake in the UK retailer but declined to comment on the “ins-and-outs” of the process.

“We have indicated our intention to sell the shareholding but a formal process is yet to begin,” the spokesperson insisted.

The spokesperson also remained silent over speculation that Landsbanki hopes to complete the sale this year, insisting that it was still “too early” to predict when the sale would close.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now