Eimskip selling remaining 49% stake Avion Aircraft Trading
Iceland’s Hf. Eimskipafelag Islands has agreed to sell its 49 percent holding in Avion Aircraft Trading to a buyout team comprising AAT’s chairman Hafthor Hafsteinsson, director Arngrimur Johannsson, and other key managers.
The transaction is valued at ISK1.8 billion ($28 million) and follows the October 2006 sale of a 51 percent stake in AAT to the same buying party.
Eimskip previously decided to hive off all of its aviation assets including Air Atlanta.
“The disposal of Avion Aircraft Trading is in accordance with the strategy of the board, introduced this spring,” said Baldur Gudnason, Eimskip’s chief executive officer. “It is important for Eimskip to focus on its core activities; transportation and storage of temperature controlled cargo, where we are a key international player.”
Eimskip selling remaining 49% stake Avion Aircraft Trading
