Capital from Icesave Holland was not used to finance Marel’s Food System purchase of Stork Fund Systems. According to Hordur Arnarsson CEO of Marel it’s not correct what has been said in the Dutch media over the past days.
“First I would like to point out that 50% of the operation was funded through our own funds and the rest was provided by a cooperative loan from European banks,” Says Hordur. “It’s also worth pointing out that the external loans we got, did take place before Icesave even existed in Holland”.
According to Hordur it has been requested that the Dutch media corrects this mistake and publish the right information. This misleading information was picked up here in Iceland by local media.