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HoF bosses meet with Landsbanki

Icelandic bank Landsbanki has reiterated it has no intention of selling Baugur’s holding in House of Fraser for the “foreseeable future” following “positive talks” with the department store’s senior management team.

Landsbanki issued a statement this morning which read: “Our aim is to maximise the long-term value of the shareholdings and we give our full support to the House of Fraser management team.”

Both House of Fraser and Landsbanki stressed that the recent administration of Baugur’s subsidiary BG Holding, which had a 35% stake in House of Fraser, would have no impact on the trading or banking position of the department store.

BG Holding administrator PricewaterhouseCooper is holding the 35% stake in House of Fraser on behalf of Landsbanki.

Readers' comments (1)

  • oh to be a fly on the wall in that meeting

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