Kaupthing buys shares in Glitnir for third party Skip to content

Kaupthing buys shares in Glitnir for third party

Investment bank Kaupthing bought shares worth over ISK 100 billion (USD 1.5 billion, EUR 1.1 billion) in investment bank Glitnir last week, some of which have been bought by Saxbygg ehf. and Jötunn Holding ehf.

The largest shareholders in Glitnir, Karl Wernersson, owner of investment company Milestone ehf. and the largest shareholder in the recently founded investment bank Askar Capital, and the chairman of Glitnir’s board of directors Einar Sveinsson sold their shares in Glitnir, as reported in all the main media.

According to Fréttabladid, Milestone made between ISK 45 and 50 billion (USD 746 and 672 million, EUR 501 and 556 million) in profits from the sale, which is a new record in profits from the sale of shares of an Icelandic company.

According to Morgunbaldid, seven percent of shares, which were owned by Tháttur International, have not been bought yet and if that is still the case after April 16, Kaupthing will buy the shares itself.

Saxbygg ehf. is the parent company of Saxbygg Invest ehf. and Saxsteinn ehf. Saxbygg ehf. is owned by Saxhóll Invest ehf. and the contractor company Bygg.

Owners of Jötunn Holding ehf. are Sir Tom Hunter, Baugur and Fons.

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