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Signature of Purchase Agreement between the State of Iceland and Landsbanki Ísla   4.10.2005 14:00:32
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Today, the Minister of Agriculture Guðni Ágústsson and Minister of Finance Árni M

Today, the Minister of Agriculture Guðni Ágústsson and Minister of Finance Árni M. Mathiesen, acting for the State of Iceland, signed a purchase agreement with Landsbanki Íslands hf. on the acquisition by the bank of specific assets and liabilities of the Agricultural Loan Fund. The Purchase Agreement was concluded on the basis of an offer made by Landsbanki Íslands on 30 September, the highest of three offers submitted.

 

The purchase price amounts to ISK 2,653 billion and payment should be effected on the delivery of the sold property, following an approval by the Financial Supervisory Authority and the Competition Authority.

 

The arranger of the sale on behalf of the State of Iceland was the Executive Committee on Privatisation, with Ráðgjöf og Efnahagsspár acting as the Committee’s principal advisor.

 

Reykjavík, 4 October 2005

Executive Committee on Privatisation

 

 


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