Icelandic investment bank Straumur-Burdarás sold a 21% share in Íslandsbanki over the weekend, one of the largest share transactions in Icelandic history. Straumur-Baudarás still maintain a 5% share in the bank and the transaction is dependent on the agreement of the Fjármálaeftirlitid (the Icelandic finance regulating body).
The biggest single purchaser was FL Group, owners of Icelandair, which bought a 6.5% share and now owns 16% of Íslandsbanki and are now the second largest shareholders of the bank. Other buyers of the shares include Karl Wernersson, Einar Sveinsson and Jón Snorrason who are all members of the board of Íslandsbanki. According to Fréttabladid, the new transaction indicates Íslandsbanki’s intention to increase activities in the field of investments.
The profit for Straumur-Burdarás is approximately ISK 16 000 million, according to Thórdur Már Jóhannesson, CEO of the investment bank. Björgólfur Thor Björgólfsson, Chairman of the Board, says he is very satisfied with the business. Skarphédinn Berg Steinarsson, Chairman of the Board of Íslandsbanki, said “We consider this a good investment and have great faith in the future of the bank”.
With reports from Fréttabladid.