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Sale of specific assets and liabilities of the Agricultural Loan Fund   30.9.2005 15:01:40
Flokkur: Skuldabréfafréttir      Íslenska  English
Today, the Minister for Agriculture, following consultation with the Ministerial Committee on Privatisation, has accepted the recommendation of the Executive Committee on Privatisation to accept offer of Landsbanki Íslands hf

Today, the Minister for Agriculture, following consultation with the Ministerial Committee on Privatisation, has accepted the recommendation of the Executive Committee on Privatisation to accept offer of Landsbanki Íslands hf. for specific assets and liabilities of the Agricultural Loan Fund. The offer amounted to ISK 2,653 billion, which represents the highest offer submitted.

 

A total of three offers were submitted. Offer Kaupþing banki hf. amounted to ISK 2,624 billion and offer Íslandsbanki hf. amounted to ISK 2,301 billion.

 

A purchase agreement was drafted concurrently with the tendering process and no further negotiations are anticipated. Execution of a purchase agreement is anticipated next week, and payment should be effected on the delivery of the sold property following approval by the Financial Supervisory Authority and the Competition Authority.

 

Reykjavík, 30 September 2005

Executive Committee on Privatisation

 

 


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