Straumur-Burdarás to buy Finnish bank Skip to content

Straumur-Burdarás to buy Finnish bank

Icelandic investment bank Straumur-Burdarás announced yesterday that it had made an offer to acquire a 62 percent stake in the Finnish bank eQ, causing the Finnish bank’s share price to rise by 49 percentage points.

According to Fréttabladid, Straumur-Burdarás plans to make an offer for eQ’s remaining shares in June. The total value of the shares is about ISK 22 billion (USD 353 million, EUR 263 million).

Straumur-Burdarás CEO Fridrik Jóhannsson said he expected eQ to accept the offer. He stated eQ’s board had recommended the move to shareholders.

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