FACTBOX-Icelandic companies' holdings overseas

Fri Oct 10, 2008 3:15pm BST
 
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STOCKHOLM (Reuters) - Icelanders' overseas business empire took just a handful of years to build but may crumble in an even shorter time.

Three top banking groups -- Kaupthing, Landsbanki and Glitnir -- have been taken into government control and some assets have been put up for sale.

Because Icelandic businesses are closely connected and have relied mainly on domestic banks for borrowing, a number of other firms may also need to cut down overseas exposure.

The following is a list of Icelandic companies' assets abroad.

KAUPTHING

- Outside Iceland, Kaupthing's main operations are in Britain, Denmark and Sweden.

- In Britain it owns Singer & Friedlander, which it bought for 550 million pounds in 2005. It has been put into administration.

- In Denmark it owns FIH. The managing director of the firm told Danish news agency Ritzau on Friday he expected the unit to be sold for around 7 billion Danish crowns (758 million pounds).

- Kaupthing's Swedish operations are up for sale  Continued...

 
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