Investments

Icelandic group sells easyJet shares

Bank Of America Investment FL Group has sold its 16.9 percent stake in easyJet, putting to rest speculation that the Icelandic firm planned to take over the low-cost airline.

line booking service, the airline has sold almost 300, 000 seats via the internet and is currently achieving 25% line. easyJet started selling airline seats on the internet in April 1998 and sold 911 seats in the first two months. During the final two months of the first year (February and March 1999) easyJet sold 160, 000 seats on the internet, turning over 7.7 million.

Investment Opportunity By selling the stake FL Group has realised a profit of approximately 140 million euros. Proceeds from the sale will be channelled into new investments during 2006.

On offer to the black public are a funded offer where Sasol shares are issued with a minimum investment period of three years before they can be sold to another black person; and also a cash offer of unlisted Sasol shares, with a minimum investment period of two years before selling to a black person.

Banc Of America Investment Following the sale of the easyJet stake and FL Group's recent bond issue the firm has liquid assets of approximately 600 million euros providing considerable investment capacity for FL.

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Banking Investment "FL Group first invested in easyJet just under two years ago and the investment has proved to be a great success which has provided a foundation on which we have built FL Group," says Hannes Smarason, CEO of FL Group.

Icelandic Vocabulary Modern Icelandic does not usually borrow words directly from other languages. Instead, people who speak Icelandic will normally create new words based on Icelandic roots to cover new concepts. Thus, there are few imported foreign words used in daily Icelandic speech. However, English, like Icelandic, is a Germanic language, and the languages share many roots. Compare hár, tré, mó4r, and fa4r, for example.

Investment Solution Strategic "We have enjoyed being an investor in easyJet and believe that the company is well placed within its industry and has a bright future."

Getting a fair share price is another cause. Investment bankers actually encouraged this too. The share price of a big group is the average of the group s performance. If the better subsidiary is broken up, it will have a higher share price value. When the group is split up, it is like a share split. Share split is a popular way for listed company to attract more investors to its shares. For instance, a listed company with a US $ share when split into two of US $ share each will attract more buyers to its shares as the split share becomes more affordable.

Investment Banking Services Smarason also said: "The sale of our easyJet holding does not affect our other investments in the aviation sector and we remain committed to our investments in Icelandair, Sterling and Finnair."

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