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Bakkavor chiefs face loans probe.

Publication: Grocer
Publication Date: 14-MAR-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Bakkavor chiefs face loans probe.(news)(Exista)(Bakkavor Group HF)

Article Excerpt
Agust and Lydur Gudmundsson, CEO and chair of ready-meals giant Bakkavor, are facing investigation into loans they received from failed Icelandic bank Kaupthing.

This week it emerged Kaupthing had lent hundreds of millions of pounds to its largest shareholder Exista, a financial services company controlled by the Gudmundssons through a 77% stake. As Kaupthing collapsed, Exista sold off many assets as its future was cast into...

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