Business Services Industry
Kaupthing Bank hf to sell all shares in Eikarhald ehf
Nordic Business Report, March 28, 2007
NORDIC BUSINESS REPORT-28 March 2007-Kaupthing Bank hf to sell all shares in Eikarhald ehf(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Icelandic financial group Kaupthing Bank hf said on Wednesday (28 March) that it has reached an agreement with the Icelandic company Eikarhald ehf on the sale of the entire share capital of Eik fasteignafelag hf.
The transaction will be completed on 4 April 2007 when the payment and delivery of the shares to the new owners is executed. The purchase price will be paid in cash.
Kaupthing Bank will generate a profit of approximately ISK4.0bn on this transaction, which will be booked in the second quarter of 2007.
Eikarhald ehf is owned by Baugur Group hf (22.7%), FL Group hf (49%), Fjarfestingafelagid Primus ehf (10.15%) and Saxbygg ehf (18.15%).
Kaupthing Bank, headquartered in Reykjavik, Iceland, is a northern European bank offering integrated financial services to companies, institutional investors and individuals. The bank operates in ten countries, including all the Nordic countries, Luxembourg, Switzerland, the United Kingdom and the US. In addition the bank operates a retail franchise in Iceland. The bank has 2,568 employees.
One British pound (GBP) is worth approximately 130.64 Icelandic kronur (ISK).
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