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LAFL
LAIS
Landsbanki Sells All Shares in Landsafl   2.3.2007 11:41:11
News categories: Corporate news      Íslenska  English
Landsbanki Íslands hf

Landsbanki Íslands hf. has signed an agreement with the real estate company Stoðir hf. for the sale of all Landsbanki’s shares in Landsafl hf., which comprise 80% of the latter’s issued share capital.

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The total value of the transaction (Enterprise Value) is close to ISK 19 billion (EUR 215 million), and the sale will positively impact Landsbanki’s equity by approximately ISK 3,500 million (EUR 40 million) .

 

Landsbanki was one of the founders of Landsafl in 1998, when its holding was 20%. The bank acquired the company in full in October 2003, then sold 20% to Burðarás hf. in 2005.

 

Landsafl is an investment company concentrating primarily on the holding, operation, maintenance and leasing of real estate. Its objective is to own and operate real estate for long-term and/or short-term leasing.

 

Landsbanki’s Corporate Finance served as advisor on the transaction.

 

For further information contact Sigurjón Þ. Árnason, CEO, tel. +354 898 0177, or Ívar Guðjónsson, Head of Proprietary Trading and Private Equity, tel. +354 410-7321.

 

About Landsbanki

Landsbanki is a growing European bank with total assets of ISK 2,173 billion (EUR 23.2bn) and a market capitalisation of ISK 321 billion (EUR 3.4 bn) at year-end 2006. Headquartered in Reykjavik, Iceland, Landsbanki Islands hf. is traded on the OMX Nordic Exchange Iceland under the symbol <LAIS IR>. Landsbanki is rated by Moody’s (Aaa / P-1 / C / Stable) and Fitch (A / F1 / B/C / Stable).

 

Since its establishment in 1886, Landsbanki has been instrumental in the economic devel¬opment of business and industry in Iceland. Landsbanki has positioned itself as Iceland’s primary provider of general and specialised financial services to individuals, corporate entities and institutions. The bank holds a market share of over 30% in all major business segments and has the country’s most extensive branch network.

 

Building on its strong foundation in Iceland, Landsbanki has successfully extended its financial operations into new markets, focusing on serving mid-cap corporates in Europe in a transactional setting. The bank’s unique product line includes access to both debt and equity markets; its research department. is among the comprehensive in Europe, including some 90 analysts covering more than 800 European stocks locally. Landsbanki and its subsidiaries have operate in all major financial centres of Europe, and have North American representation in New York and Halifax. Through its extensive distribution network, Landsbanki has a strong platform to deliver targeted financial services based on local expertise.

 


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