Discussions on the Sale of Búnaðarbanki Íslands hf.
Press Release
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. Two groups of investors have been selected for further discussions. The groups are, on the one hand, Kaldbakur hf. and, on the other hand, Andvaka Holding Company, Samvinnutryggingar Mutual Holdings, Fiskiðjan Skagfirðingur hf., the Skagafjord Co-operative Company svf., Ker hf., Samskip hf. and the Co-operative Pension Fund.
Following the publication of a notice on 10 July by the Executive Committee on Privatisation, five groups of investors sent in notification of their interest in acquiring a stake in Landsbanki Íslands hf. and Búnaðarbanki Íslands hf. Based on the objectives and criteria specified in the notice published by the Committee, a decision was made to enter into discussions with the above parties.
This stage of the sale of State holdings is scheduled for completion this year.
Reykjavík,19 October, 2002