In what effectively amounts to a management buyout, FAB GmbH – whose investors include Pickenpack executives Finnbogi A. Baldvinsson (brother of Samherji Director Thorstein Mar Baldvinsson) and Klaus Vieten and Samherji – took control of Pickenpack, Hussman and Hahn with a purchase of 58 percent of the shares in Pickenpack, from former partner Orlando Management in mid-October.

Samherji committed 4 million to a stake in FAB Gmbh to finance the takeover. Though Samherji once held FAB in its entirety, it sold off 65 percent of the company in 2000, and it’s unclear what percentage of FAB GmbH Samherji now holds.