Reykjavik (IFN) Iceland's FL Group buys Glitnir shares for EUR94mln
Icelandic investment company FL Group acquired shares in Icelandic bank Glitnir for ISK8.4 billion (EUR94 million) on Wednesday, the Icelandic Stock Exchange announced.
With the purchase FL Group increased its stake by 3.2%, from 24.42% to 27.62%.
The number of shares in the transaction was 457.000.000, at the rate of 17.7.
FL Group recently announced that the company's pre-tax losses amounted to ISK334 million (EUR3.7 million) in the second quarter of 2006.
Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.