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Organizers of the nature awareness concert in Laugardalur park in Reykjavík say 30,000 people—10 percent of the Icelandic population—were there. But do Icelanders care about nature?
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Click on the picture to watch an audio slideshow of how traditional, Icelandic rhubarb stew is made. Rhubarb is one of the few vegetables that grow effortlessly in Iceland and for that reason it used to be a highly-valued addition to the traditional diet of fish and lamb, although in recent years it has been losing popularity.
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Located just 40 minutes by car and six minutes from Keflavík International Airport, Sandgerdi (“Sandy Hedge”) is a growing town of 1,700 with a storied history and loads to see. Read this special promotion about the hidden secrets of one of Iceland's most charming seaside villages.
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Iceland-based investment company Baugur Group wrapped up the sale of all its assets in Iceland yesterday evening and will from now on focus on investments in retail in Britain, the other Nordic countries and the US.
The name of investment company FL Group has been changed to Stodir. Last night Stodir purchased an almost 40 percent stake in Baugur Group from Styrkur Invest, Fréttabladid reports.
“With these actions the equity basis of Stodir is strengthened considerably and a fourth pillar is provided for the company,” said chairman of the board of Baugur Group Jón Ásgeir Jóhannesson.
“At the same time we have managed to secure refinancing of Baugur’s debt. It is a great relief and an achievement for us considering the current situation on international credit markets,” Jóhannesson added.
“Now we can finally play the offense again instead of constantly being on the defensive,” Jóhannesson concluded.
Stodir has sold its entire 34.8 percent stake in Northern Travel Holding, which is the mother company of Iceland Express, Sterling and other tourism companies. Fons purchased that stake, financing the acquisition with shares in Stodir.
Stodir now holds a ruling stake in Glitnir Bank, TM insurance company and Landic Property in addition to Baugur Group. Stodir’s equity has consequently increased by almost ISK 20 billion (USD 256 million, EUR 163 million).
Gaumur investment company, which Jóhannesson owns with his wife Ingibjörg Pálmadóttir and his parents, Jóhannes Jónsson and Ása K. Ásgeirsdóttir, has purchased Hagar, whose operations include the Bónus and Hagkaup grocery store chains.
After the reshuffling of Baugur Group’s assets, the bulk of its operations will be in London, and a decision on the transfer of its headquarters will be made on July 18, according to CEO of Baugur Group Gunnar Sigurdsson.
Commissioner of the Inland Revenue has permitted Baugur Group to change its operational currency to the pound sterling. Until now, the company’s operational currency has been the ISK.
Around 50,000 people work for companies owned by Baugur Group worldwide.
Click here to read more about Baugur Group and Jón Ásgeir Jóhannesson.
For limited time while supplies last, new subscribers to Iceland Review will receive the book Adventure in Iceland (normally USD 47) as a gift. You will also be entered in a draw to win a trip to Iceland next year! Start your subscription now by ordering here.
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REVIEWS
Thráinn Bertelsson is one of the Iceland’s best known film directors, but also an accomplished writer. My Self & I (2004) is his autobiography, although at times the story of his life seems beside the point, and Reykjavík, as a struggling young capital, steps into the limelight. While documenting his youth, Bertelsson wittily describes Iceland’s history since becoming an independent nation in 1944.
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As the world moves towards global Internet television and transcontinental simulcasts, one Icelandic network steps out of the loop in an attempt to localize the small screen. But what does the nation see when it gazes into the high-definition looking glass? Read this feature about the new Icelandic television network ÍNN.
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This week visit the ASÍ Art Museum in Reykjavík for an exhibition of masterpieces from the museum’s collection of Icelandic art from the 20th century—by some of the country’s most celebrated artists—and its collection of contemporary art from recent years. The exhibition “Currents – Masterpieces from the ASÍ Art Museum Collection” closes on August 24.
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