Iceland Sold Later this Year? Skip to content

Iceland Sold Later this Year?

icelandickrona_ipaThe winding up committee of Landsbanki is preparing a sale of its greatest asset, a 67% share of Iceland. A likely price is said to be 1.5 billion pounds, 2.4 billion USD or 1.7 billion Euros.

The Iceland in case is, of course, the British retail chain Iceland. According to the Daily Telegraph a sales team has been hired and the winding up committee expects to finish the sale in about 10 months. Malcolm Walker, founder and CEO of Iceland is said to be contemplating a bid for the Landsbanki share, but he himself owns a 24% share. Last year Walker bid a billion pounds for the Landsbanki stake, but the offer was refused.

The winding up committee also controls a 35% share of House of Fraser, another British retail chain and a 66% share in jewelry chain Aurum. Neither is said to be for sale.

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However, the share in the famous toy store Hamleys may be sold this year (the old Landsbanki has a 65% share) according to the Daily Telegraph.

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