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Pension investment fund sells all its shares in Icelandair Featured

Pension investment fund sells all its shares in Icelandair

The Enterprise Investment Fund (EIF) has sold all its shares in Icelandair, worth around €42 million. This was stated in an announcement that Icelandair published at the stock exchange, as they are required to do by law, since the transaction was flagged. The EIF fund owned 7.01% of all Icelandair outstanding shares. The buyer was not announced.

The collapse of Iceland’s financial system and the failure of its major banks in 2008 generated a pressing need for revitalisation of the Icelandic economy. On 8 December 2009 a limited partnership, the Enterprise Investment Fund slhf. (EIF), was formally established by 16 pension funds belonging to the National Association of Pension Funds, with the aim of participating in and shaping the financial and operational restructuring of the Icelandic economy.

 

Last modified onMonday, 10 February 2014 22:32
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