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Hitt og þetta 28. september 2006

(IFN) Icelands Egla transfers 10.82% stake in Kaupthing

Reykjavik (IFN) Iceland's Egla hf. has decided to transfer the company's 10.82% shareholding in Kaupthing Bank to a Dutch holding company, Kjalar Invest BV, Kaupthing Bank said on Thursday.

After the merger with Fjarfestingarfélagid Vending ehf. has been completed, the company will own 99.99% of its subsidiary, Kjalar Holding BV, which owns the entire share capital of Kjalar Invest BV, which in turn will own 10.82% in Kaupthing Bank. Kjalar ehf. owns the remaining 0.01% in Kjalar Holding BV.

Following the merger between Egla hf. and Fjárfestingarfélagid Vending ehf., the company will be entirely owned by the merged company Ker hf. and Kjalar ehf., which in turn is under the majority ownership of Olafur Olafsson.

The Icelandic Financial Supervisory Authority has raised no objection to this transfer of ownership.

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