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Banks

Blackfish set to buy Kaupthing Luxembourg- paper

BRUSSELS, May 14 (Reuters) - UK investment fund Blackfish Capital is set to take over the Luxembourg arm of crisis-hit Icelandic bank Kaupthing, Belgian daily De Tijd reported on Thursday.

The paper cited a letter sent out to customers, adding that the deal had yet to be submitted to Kaupthing’s creditors.

A Kaupthing Luxembourg official who declined to be named confirmed a letter had gone out to clients regarding an offer, but declined to confirm Blackfish was the suitor.

A group of Middle Eastern investors had intended to buy Kaupthing Bank Luxembourg, but Kaupthing’s interbank creditors rejected a restructuring plan submitted in March.

Reporting by Antonia van de Velde; editing by John Stonestreet

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