Merrion Capital
- In November 2005, Iceland's
second biggest bank
Landsbanki announced an agreement to make a strategic investment,
whereby Landsbanki initially will acquire a 50% share holding in Merrion
and subsequently the remaining 50% over the next three years. Months
later, Iceland's economic prospects went into reverse as the flight of
hot money pushed interest rates above 11 per cent.
