Icelandic pensions scoop 25% of geothermal company HS Orka

clock •

ICELAND - A group of Icelandic pension funds will buy a 25% stake in geothermal power company HS Orka for ISK8.06bn ($71.5m) from Magma Energy, the firm said.

The investors have also been given "significant minority shareholder rights to appoint Board members and participate in the major decisions of HS Orka as long as they continue to hold at least a 22...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

Author spotlight

Raquel Pichardo-Allison

View profile
More from Raquel Pichardo-Allison

A glimpse into our archives

TRS hands $6bn to KKR and Apollo, grows strategic partners programme

More on Iceland

Iceland

Icelandic pensions scoop 25% of geothermal company HS Orka

ICELAND - A group of Icelandic pension funds will buy a 25% stake in geothermal power company HS Orka for ISK8.06bn ($71.5m) from Magma Energy, the firm said.

Raquel Pichardo-Allison
clock 19 April 2011 •
Iceland

Iceland pension funds to block $2bn debt relief

ICELAND - Iceland's pension funds, which hold the bonds behind most of the country's mortgage debt, will try to block proposals to forgive as much as $2bn in bad loans that the government says it is considering.

Omar R. Valdimarsson at Bloomberg News
clock 15 October 2010 •
Iceland

Iceland turns to pension funds for help

ICELAND - Iceland's government is still struggling to find enough resources to rescue its banking system and has called on the country's local pension funds to repatriate foreign assets.

Steven Dignall
clock 06 October 2008 •
Trustpilot