Kaupthing Sweden sold to Finnish bank

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2009-02-17 (All day)

A binding agreement was signed earlier today on the purchase of Kaupthing in Sweden by Finnish Alandsbanken, based on the Aland Islands. Alandsbanken purchased Kaupthing Bank Sverige AB, Kaupthing Fonder AB and Alpha Asset Management Company. The purchase price is SEK 414 million (ISK 5.7 billion, USD 48,611,000) and was paid up front. This purchase price amounts to roughly half of Kaupthing Sverige’s assets, according to mbl.is.