Iceland's privatisation programme 1991-2000
The coalition government of the Independence Party and the Progressive Party was formed on 28. May 1999. As the two previous government, it has on its agenda a comprehensive approach to privatization.
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The implementation of privatization
For the purpose of coordinating procedures and in order to ensure professional preparation for the sale of state-owned enterprises, the following was agreed upon at a Government Meeting on 9 February 1996:
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Negotiations with HSBC Investment Bank
The Executive Committee on Privatisation, acting for the Minister of Commerce, has resolved to enter into negotiations with HSBC Investment Bank regarding services in respect of the proposed sale of the State Interest in Landsbanki Íslands.
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Discussions on the Sale of Búnaðarbanki Íslands hf.
Following the conclusion of an agreement with Samson ehf. on the acquisition of a stake in Landsbanki Íslands, the decision has now been made to continue the process of selling the State interest in Búnaðarbanki Íslands hf.
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Agreement with Samson ehf.
The Executive Committee on Privatisation and Samson Holding ehf. have reached an agreement on the acquisition by Samson of 45.8% of the shares in Landsbanki Íslands hf.
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Executive Committee on Privatisation
The Government has decided to appoint an Executive Committee on Privatisation, Management Contracting and Sales of Government Assets, which will report to the Ministerial Committee on Privatisation.
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Heads of Agreement Concluded
The Executive Committee on Privatisation, for the first part, and Egla ehf., the Co-operative Pension Fund and the Iceland Insurance Company hf., for the second part, have concluded a Heads of Agreement concerning the acquisition by the latter of a 45.8% share in Búnaðarbanki Íslands hf. The price is slightly over ISK 11.9 billion.
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Notice to the Iceland Stock Exchange
The sale of shares in Landssími Íslands to a core investor is proceeding well. Following the receipt of seven non-binding offers at the end of last month, the Executive Committee on Privatisation decided to invite three participants to continue and submit a binding final offer at the end of this month.
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The Sale of Landsbanki Íslands hf.
Presentation for Foreign Banks Regarding the Sale of a Substantial Share, at Least One Third of the Shares, in Landsbanki Íslands hf.
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Signature of Purchase Agreement between the State of Iceland and Samson ehf.
Ms. Valgerður Sverrisdóttir, Minister for Trade, and Mr. Geir H. Haarde, Minster for Finance, acting together for the State of Iceland, today signed a purchase agreement with Samson Holding ehf. on the acquisition by Samson of a 45.8% interest in Landsbanki Íslands hf. (the National Bank of Iceland).
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German bank among new shareholders of Búnaðarbanki Íslands hf.
Mrs. Valgerður Sverrisdóttir, Minister of Commerce and Mr. Geir H.Haarde, Minister of Finance, have signed on behalf of the Icelandic state an agreement with Egla holding, the Iceland Insurance Company hf. (VÍS), the Co-operative Pension Fund and Samvinnutryggingar Mutual Holdings concerning the purchase by the latter of a 45.8% share in Búnaðarbanki Íslands hf.
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Negotiations with TDC
On 7 December, the Executive Committee on Privatisation received two offers for a core investor share in Iceland Telecom hf.
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Sale of Share in Landsbanki Íslands
HSBC Bank in London, together with the management of Landsbanki hf., has been presenting Landsbanki to potential core investors in recent weeks.
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The time limit to submit bids for the government shares in Íslenskir aðalverktakar hf. hjas expired
The time limit to submit bids for the government shares in Íslenskir aðalverktakar hf. ( Iceland Prime contractor), at a nominal value of 558.040.000 IKR or 39,86% of total shares, expired at 16:00 p.m.
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Acquisition of the Iceland Prime Contractor
Bidders for further negotiation on the acquisition of the Iceland Prime Contractor
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Position of Negotiations with TDC
Press release from the Executive Committee on Privatisation regarding the position of negotiations with TDC.
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Negotiations not terminated
A Notice from the Executive Committee on Privatisation on the progress of negotiations.
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Iceland Telecom
The decision has been made to bring to an end the process of selling a substantial interest in Iceland Telecom to a core investor.
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Investors are being sought
The Executive Committee on Privatisation, acting for the Minister for Industry and Commerce, requests notification from investors interested in acquiring at least 25% in Landsbanki Íslands hf. and Búnaðarbanki Íslands hf.
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Discussions on the Sale of Landsbanki
The decision has been made to enter into further discussions with the investors who, in the course of the meetings, showed a greater interest in Landsbanki than in Búnadarbanki.
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Discussions with Samson Holding ehf.
The Ministerial Committee on Privatisation has decided to enter into discussions with Samson Holding ehf. on the sale of a substantial stake in Landsbanki Íslands hf.
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The Privatisation of Iceland Telecom hf.
Report on the Preparation and Implementation of the Sale of the State's Shares in Iceland Telecom hf.
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Arrangement of sale of State shares in Iceland Telecom hf.
The Executive Committee on Privatisation has recently been preparing the sale of shares in Iceland Telecom in accordance with the policy formulated by the Icelandic Government and the Ministerial Committee on Privatisation.
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The Executive Committee on Privatisation: Sale of State Shares in Iceland Telecom - Report.
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