‘Wrong on every count’: Walker denies any Iceland finance deal

  • Print
  • Share
  • Comment
  • Save

Iceland CEO Malcolm Walker has blasted a Sunday Times article claiming he had signed a deal with Deutsche Bank to ­finance his purchase of Iceland as "a disgrace" and "wrong on every count".

As speculation over the future of Iceland heats up, Walker told The Grocer that no deal had been signed with any investment bank or venture capitalist. He confirmed discussions were ongoing, but said no decisions had been made.

Walker also gave a progress update on the deal. Vendor due diligence had almost finished, and Walker predicted an information memorandum would go out to selected parties in two weeks time.

Some 67% of the company is up for grabs from failed Icelandic bank Landsbanki, with variations ranging from £750m to £2bn.

Analysts suggest that only Walker who currently owns 23% of the company and Morrisons, which last month appointed Credit Suisse as an advisor, will bid.

Have your say

These comments have not been moderated.

You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment.

Any comment that violates these terms may be removed in its entirety as we do not edit comments.

If you wish to complain about a comment please use the “report this comment” facility or email groceremails@wrbm.com


Related images

  • Print
  • Share
  • Comment
  • Save

Grocer jobs Experts in FMCG

Redhill Recruitment Ltd Business Development Manager – Meats

Business Development Manager – Meats - Redhill Recruitment Ltd

Upto £30k Basic + Excellent OTE - Company Car- Laptop & Phone
Search jobs
Sign in

Newsletter Sign-up


I wish to receive the following newsletters:

For Members

Become a Gold Member to receive these newsletters:

Become a Finance Member to receive these newsletters:

Become a member of The Grocer



CLICK HERE to search for the products, services and companies you need in the definitive guide to the UK food and drink industry.


The Grocer's commentators and opinion makers