direct/ Glitnir - Conference call - 2 PM London/UK and 3 PM Stockholm/Oslo time
Consolidates Glitnir´s position in Norway and the Nordics
Glitnir will host a telephone conference in connection with the acquisition of Fischer Partners at 1 PM, Iceland time (2 PM UK) (3 PM Stockholm/Oslo) on Friday 26 May. To participate, call UK +44 (0)20 7162 0025, USA +1 334 323 6201 or Norway +47 2156 3120, no later than ten minutes in advance. (If any problems: call Vala Palsdottir at +354-844 49 89)
Get more insight on the transaction released on Wednesday afternoon:
Reykjavik/Oslo/Stockholm, 24 May 2006 - Glitnir banki hf. today announced that it has entered into an agreement with Invik & Co. AB, a listed Swedish finance group, to buy all the shares in Fischer Partners Fondkommission AB (Fischer Partners). The acquisition will give Glitnir a solid platform in the Nordic securities brokerage sector, while at the same time consolidating the bank´s position in Norway and the Nordic region. In this year´s first quarter Fischer Partners´ share of the overall Nordic market, excluding Iceland, was 4.4 per cent, making the company the 6th largest brokerage business in the Nordic region. The acquisition price is SEK 380 million.
Frank O. Reite, Managing Director Glitnir Norway, mobile +47-915 80 604 and e-mail: email@example.com
Bjørn Richard Johansen, International Communication and Public Affairs Director, Glitnir, e-mail: firstname.lastname@example.org, mobile +47-47 800 100
For photos, please contact: email@example.com
Glitnir is a leading financial group that has offered universal banking services since 1904. The group´s comprehensive banking services include retail banking, investment banking, brokerage and asset management. The bank has a branch in London and in Copenhagen, and an office in Halifax, Canada and is the sole owner of banks in Luxembourg and Norway. Glitnir plans to open an office in Shanghai, China in 2006. Glitnir is listed on the Icelandic Stock Exchange and has a market capitalization of approximately EUR 3 billion. Glitnir recently announced record profits for first quarter 2006: After-tax profit was ISK 9.1 billion, the best quarter in the bank´s history. Total assets at 31 March 2006 were more than ISK 1,800 billion, and equity was ISK 111 billion. For more information: www.glitnirbank.com.
Fischer Partners is a leading Nordic stockbroker. The company is a member of the exchanges in Stockholm, Helsinki, Oslo, Copenhagen, Tallinn, Riga, Vilnius and Warsaw, and Eurex, the German derivatives exchange. In the first quarter of 2006, Fischer Partners was the fourth largest equity broker on the Stockholm Stock Exchange with a market share of 5.7 percent, and the sixth largest on the Nordic exchanges combined with a market share of 4.4 percent, measured by aggregated turnover. Fischer Partners conducts electronic equities trading, traditional stock broking, trading on its own account and research. Customers are primarily international and Swedish institutions as well as transaction intensive individuals. For more information: www.fip.se
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