Hagar hf.
Eignabjarg plans to sell a minimum 10% shareholding in Hagar
Hagar hf. 24.02.2012 21:59 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press release from Eignabjarg ehf. 24 February 2012 Eignabjarg ehf., a subsidiary of Arion Bank hf., has decided to offer for sale a minimum of 10% shareholding in Hagar hf. The shareholding will be sold in a private placement in accordance with Article 50.1b of the Securities Transactions Act no. 108/2007 and will be managed by Arion Bank's Investment Banking division. The private placement is expected to be completed before 1 March. The eventual size of the shareholding to be sold depends on the bids submitted by investors. Eignabjarg currently owns 19.3% in Hagar. The Financial Supervisory Authority has confirmed that it has no objection to the Bank's retaining up to a 10% interest in Hagar after the sale. The settlement between Arion Bank and the Competition Authority concerning the Bank's acquisition of 95.7% of share capital in Hagar is still applicable. However, under an agreement with the Competition Authority the Bank is obliged to complete the sale of the acquired shares by 30 June 2012. For further information please contact: Haraldur Guðni Eiðsson, Communications, Arion Bank on +354 856 7108 Halldór Bjarkar Lúðvígsson, Managing Director of Investment Banking, Arion Bank on +354 856 6541 News Source: NASDAQ OMX 24.02.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Hagar hf. Iceland Phone: Fax: E-mail: Internet: ISIN: IS0000009827 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found