Eimskip Holding to split into transportation and investment companies

Eimskip Holding to split into transportation and investment companies    The board of directors of Eimskip Holding, the Icelandic shipping, transportation, seafood and investment group, has decided to propose to shareholders to split the company into two stock market-listed companies.
   One company would be Eimskip Ltd., covering the group’s shipping and transportation activities, and the other would be Burdar's Ltd., handling investment activities. Burdar's will, in addition to its current shareholdings, take over Eimskip Holding’s shares in Brim Seafood Ltd.
   The shares of both companies will be listed on the Iceland stock exchange, Eimskip Holding said.
   Eimskip believes that the new structure would make companies of the group “clearer options for investment.”
   At the same time, Eimskip said that it would make efforts to attract additional investors to the companies. More details of the implementation of these changes will be announced soon.
   Eimskip, founded in 1914, has evolved through the years from being a shipping line to a holding company with transportation, logistics, investment and seafood businesses.
   In a related move, Ingimundur Sigurp'lsson has stepped down as chief executive officer of Eimskip over a policy disagreement. He said that it was not possible for him to take part in the transformation of the structure of Eimskip Holding.
   Magn's Gunnarsson will serve as executive chairman of the board while these changes are being implemented.