If, however, the Authority came to the view that the transaction involved state aid, Íslandsbanki states that the aid should be considered compatible under Article 61(3)(b) of the EEA Agreement.
Elles conviennent également que le rachat du bon d'Avant par ESI (via SAT Holding) a pu contenir un élément d'aide d'État en faveur de Sjóvá.