News Column

Half of Bakkavor going on sale

August 12, 2014


SHAREHOLDERS in ready meal supplier Bakkavor have hired Barclays to sell down their stakes in the food giant, it emerged yesterday, Almost half of the shares in the firm could be sold as a result.

One quarter of the firm is owned by Icelandic lender Arion Banki, which was formed from the wreckage of Kaupthing Bank after the country's financial crash.

As the bank is restructured and its balance sheet cleaned up, the lender is now in a position to sell the shareholding. Pension funds in the country may also decide to sell their stakes, according to Sky News, which first reported the story.

But Bakkavor's founders and 39 per cent stakeholders, brothers Agust and Lydur Gudmundsson, are not expected to take part.

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Source: City A.M. (UK)

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