User:Ómar Kjartan Yasin/Working on
Here I keep the articles I am working on.
Baugur Group withdraws from Somerfiled bid Saturday, July 9, 2005 Baugur Group withdraws from Somerfiled bid July 9, 2005 The Icelandic company Baugur has decided to withdraw from the Somerfield bid because of legal action against some of it's core employees including its CEO, Jón Ásgeir Jónsson, and chief of board, Haukur Loftsson. Baugur Group will also sell each share it owns in Somerfield.
Baugur Group had previously made EUR1.5 billion bid as had been covered on Wikinews.
Baugur now owns 5.5% of Somerfields shares, but they will be sold to the Iranian businessman Roberts Tchenguiz for 190 pens a piece for about 55 million pounds. Baugur will probably earn 30 million pounds by selling them.
Baugur has also reached agreement with it's partner companies that if they will be able too buy Somerfield they will repay Baugur what it has spent on research.
[edit] Sources
- "Baugur tekur ekki þátt í tilboðsgerð í Somerfield" — Morgunblaðið, July 9, 2005
- "[ ]" — July 9, 2005
