Iceland: the boom years - Telegraph
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Tuesday 15 May 2018

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Iceland: the boom years

Iceland's financial services sector boomed after being privatised during the 1990s, driving growth in the economy and bankrolling expansion abroad - with Britain's high street a popular target. Here are some charting those boom years.

Baugur bid wins Hamleys support
Jul 2003 - The 243-year-old toy store recommends £59m offer from the Icelandic retailer. This raise offer sees of businessman Tim Waterstone.

Oasis managers net £30m as Baugur buys chain
Nov 2003 - Icelandic retailer pays £125m, netting the management team of the fashion chain £30m.

Karen Millen sale bags its founders £54m
Jun 2004 - the founders of Karen Millen, which also owns Whistles, share a £54m payout from the sale of the upmarket fashion chains for £120m to rival Oasis, owned by Iceland's Baugur Group.

Kaupthing gathers £1bn for UK raid, eyes Singer & Friedlander
Dec 2004 - the Icelandic investment bank, which was playing a key role in the Viking invasion of Britain's high streets, builds a war chest for a major UK acquisition. It already had a stake in Singer & Friedlander, the bank and asset manager.

Baugur builds Mothercare stake
Feb 2003 - The Icelandic retailer acquires a 2pc stake in Mothercare, the beleaguered high street retailer which is already being circled by a number of potential bidders.

Big Food sale agreed by investors
Jan 2005 - Investors in the Big Food Group, owner of frozen food group Iceland and Booker, agree the sales of the business to a consortium headed by the Icelandic retailer Baugur, run by Jon Asgeir Johannesson, the Icelandic millionaire.

Predators who broke away from faith in cod
Feb 2005 - This week the 130-year- old stockbroker Teather & Greenwood was snapped up by Landsbanki, the former nationalised Icelandic bank. Icelandic predators bought up £26m-worth of UK companies in 2002. This climbed to £74m in 2003 and shot up to £894m in 2004. they included Hamleys, the toy store, the Big Food Group, and Stoke City football club.

The Icemen cometh
Nov 2005 - President Ólafur Grímsson likens himself to a boss of a private equity firm and says the Icelandic invasion of UK will continue.

Baugur raiders ready to capture House of Fraser
Icelandic retailer puts finishing touches to a formal offer for House of Fraser as Jon Asgeir Johannesson plans what he will do to the retailer.

Baugur founder reveals £600m war chest, eyes Debenhams
Jul 2007 - Jon Asgeir Johannesson, the Icelandic millionaire with stakes in many of Britain's best-known high street names, has dropped hints that he is considering a bid for Debenhams.

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