Q Iceland Finance acquired 37.1 million existing shares at the price of ISK 690 per share, thus becoming the third largest shareholder of Kaupthing. H.H. Sheikh Mohammed is a member of the royal family which has been the governing family of Qatar since the nineteenth century.
H.H. Sheikh Mohammed said:
“We have followed Kaupthing closely for some time and consider this to be a good investment. Kaupthing’s position is strong and we believe in the bank’s strategy and management team, as Kaupthing has performed well in the current market turbulence and has proven it can change and adapt to a new reality in banking. We view our stake in Kaupthing as a long-term investment and look forward to a close relationship with the bank in the future.”
Sigurdur Einarsson, Chairman said: “We are delighted to welcome H.H. Sheikh Mohammed Bin Khalifa Al-Thani as a shareholder of Kaupthing Bank. We are continually focused on attracting new investors to the bank and we are happy to see that our strategy of increasing the diversity of our shareholder base has proven fruitful. We look forward to working with H.H. Sheikh Mohammed in the future.”
Monday, September 22- 2008 @ 10:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.