Icelandic Group Engages BofA Merrill Lynch as Exclusive Financial Advisor
The Board of Directors of Icelandic Group has engaged BofA Merrill Lynch to act as exclusive financial advisor to the Group in connection with a review of strategic alternatives. These strategic alternatives could include, among other things, dispositions of one or more of the Group's businesses as well as equity financings, reports www.megafishnet.com with reference to Icelandic Group.
The Board of Directors of Icelandic Group called for proposals beginning 17 February 2011 from several financial institutions with expertise in international markets and experience in the international seafood industry. A total of five parties submitted proposals. Following a detailed review, the Board decided to retain BofA Merrill Lynch, citing the firm's extensive experience providing financial advice and assistance to seafood companies operating throughout the world.
Merrill Lynch International ("BofA Merrill Lynch"), a subsidiary of Bank of America Corporation, is acting exclusively for the Icelandic Group in connection with the review of strategic alternatives and for no one else and will not be responsible to anyone other than the Icelandic Group for providing the protections afforded to its clients or for providing advice in relation to any proposed transaction.