Landsbanki Islands hf. confirms that the bank and Glitnir have entered into
exclusive discussions with ManagerCo, a company owned by the senior
management team of Iceland Foods, including Malcolm Walker, to sell their
respective shareholdings in Iceland Foods. Landsbanki believes that this
approach delivers the most certainty around sale completion whilst achieving
the objective of maximising the proceeds from the sale of the shares.
As announced at the creditors’ meeting, on 17 November this year, those creditors wishing to submit further documentation and/or grounds for their objections can send these to the Winding-up Board no later than 15 January 2012. After the deadline for submitting documentation has passed, special meetings will be announced where an attempt will be made to resolve disputes on claims.