Icelandic bank to pay EUR 3bn for NIBC

By A staff reporter 2007-08-15T00:00:00

Icelandic bank Kaupthing is to acquire struggling Dutch merchant bank NIBC for EUR 3 bn. The announcement came as NIBC released annual figures confirming it had suffered a EUR 137 mln loss on its exposure to the sub-prime mortgage market in the US. NIBC is owned by a consortium led ...

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