News
Oct 16, 2009Glitnir Acquires 95% of Islandsbanki’s Share Capital
In a joint announcement on October 15, 2009, the Resolution Committee of Glitnir, the Icelandic Ministry of Finance and Islandsbanki (CanGEA member) announced that Glitnir on behalf of the creditors has acquired 95% of Islandsbanki’s share capital.
This clarifies the ownership of the bank and will have a positive impact on the Bank’s activities and is an important milestone in building a new bank.
Islandanki will continue to focus on the Icelandic domestic market but also its core niche market activities internationally. This includes geothermal energy, where Islandsbanki builds upon the success of Glitnir’s Global Geothermal Energy team, which maintained its work within the Bank.
“The clarification of the ownership structure will help us serve the Geothermal Industry going forward.”, says Árni Magnússon the Head of Islandsbanki’s Geothermal Energy Team.
