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Biggest recorded sale by Icelander

Iceland’s “first billionaire” Björgólfur Thor Björgólfsson sold the Czech telecommunications company CRa for ISK 120 billion (EUR 1.3 billion, USD 1.7 billion) It is the biggest recorded sale to be conducted by an Icelandic investor.

Björgólfsson held a 70 percent share in the company and profited ISK 50 billion (EUR 540 million, USD 706 million) in the sale. That is the greatest recorded profit ever to be cashed out by an Icelandic investor. Fréttabladid reports.

The total profit of the sale is ISK 80 billion (EUR 864 million, USD 1.1 billion). The value of telecommunications company CRa has tripled in little over two years.

The buyer was investment company Lehman Brothers.

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