Iceland Seen As Target For Private Equity Or Sovereign Wealth Fund

Reports in the UK press have suggested that frozen-food retailer Iceland has attracted the attention of a consortium of gulf investors headed by by the Global Banking Corporation of Bahrain and that the group's current owner, Icelandic bank Landsbanki, is in discussions to sell the business. A spokesman for Landsbanki has denied that formal discussions have begun but did confirm that the bank was preparing the sale process. With Iceland not fitting neatly within any of the major multiples' portfolios, BMI expects an investor from outside the industry to take control of the firm, with either a private equity group

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