Press release
Kaupthing Bank acquires a 20% stake in FiNoble Advisors in India
Kaupthing Bank has signed an agreement to acquire a 20% stake in the Indian investment services company FiNoble Advisors Private Ltd. (FiNoble) with an option to acquire the remaining 80% in five years. The investment creates a foothold for Kaupthing in the fast growing Indian financial market.FiNoble was founded in 2004 and presently operates out of its office in New Delhi. It has 25 employees and its main emphasis is on traditional M&A advisory services. FiNoble focuses on advising Indian companies on acquisitions in Europe and US and non-domestic firms on entry into the Indian market.
Kaupthing made an investment in the company to acquire the 20% stake. Kaupthing will treat FiNoble as an associated company in it's accounts. The acquisiton will have an insignificant effect on Kaupthing's results this year.
About Kaupthing Bank
Kaupthing Bank is a northern European bank offering integrated financial services to companies, institutional investors and individuals. These services include corporate banking, investment banking, capital markets services, asset management and comprehensive wealth management for private banking clients. The Bank operates in ten countries, including all the Nordic countries, Luxembourg, Switzerland, the UK and the US. In addition the Bank operates a retail franchise in Iceland, where it is headquartered.
Kaupthing Bank is currently among the seven largest banks in the Nordic region in terms of market capitalization. Through sound organic growth and strategic acquisitions like the UK bank Singer & Friedlander in 2005 and FIH Erhvervsbank in Denmark in 2004, Kaupthing Bank has fortified its position to provide outstanding services to its client base in the UK, the Nordic countries and elsewhere in northern Europe. The Bank has 2,719 employees and total assets of EUR 42.9 billion (as of 31 December 2006). www.kaupthing.com
For further information please contact:
Jónas Sigurgeirsson, Chief Communications Officer, tel 354-444-6112 or ir@kaupthing.com
Henrik Gustafsson, Director, Business Development, tel +44 203 205 5056.
www.kaupthing.com
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