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Kaupthing takes over Kevin Stanford's Mulberry shares

Kaupthing Bank Luxembourg, a subsidiary of the Icelandic bank, is understood to have taken over Kevin Stanford’s 25.4% stake in Mulberry.

The circumstances of the share transfer are unclear. Stanford is reported to owe the Icelandic bank up to £250 million.

Mulberry issued a statement on the stock exchange this afternoon confirming that Kaupthing Bank Luxembourg had taken a shareholding in the company.

Kevin Stanford was not available for comment.

Kaupthing Bank Luxembourg could not be reached for comment.

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