Carnegie did after all get HQ Bank. All shares of HQ Bank move to Carnegie for SEK 268 million. This after Carnegie had previously hired plenty of personnel from HQ. Financial authorities had earlier blocked the sale but at that time the caveat was that HQ Bank should have kept its license. Now that the license had been revoked, financial authorities had no objections.
Aker Biomarine and Lindsay Goldberg LLC – a private investment firm from New York have agreed to form a 50-50 jont venture that will own Trygg Pharma AS and Natural Nutrition Development Ltd AS, both formelly wholly owned subsidiaries of Aker Biomarine. Lindsay Goldberg will pay 140 million NOK upfront and another 140 million contingent on certain milestones to Aker Biomarine.
In connection with this news Austevoll Seafood ASA continues to be active in updating its seafood industry holdings portfolio and cutting off non-core businesses. Today it agreed to sell all the shares of Epax Holding AS. The remuneration for the shares is NOK 561 mill based on enterprise value of NOK 875 mill by December 31st 2009. The purchasing entity is Trygg Pharma AS (see above). To fund its part of the acquisition, Aker Biomarine announced a rights issue of up to NOK 250 million.
Iceland economy is still frozen solid. BKT contracted 3.1%in Q2 vs. Q1; a massive 8.6% compared to last year. US Jobs data was dismal but better than expected and ISM-Service index was lower than expected. Nordic markets ended the day up slightly.
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