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Hitt og þetta 28. júlí 2006

(IFN) Iceland?s Straumborg to acquire Russian Fineko Bank

Reykjavik (IFN) Icelandic investment company Straumborg has agreed to acquire Russian Fineko Bank, director Jon Helgi Gudmundsson told IFN on Friday.

The acquisition price will not be disclosed, but Gudmundsson added that Fineko was a relatively small bank. The acquisition will be financed by Straumborg.

?Straumborg is a solid company and we plan to grow and develop the bank," Gudmundsson said.

The bank's name will be changed to Norvik Bank, he added.

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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.