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Mind the thorns

15 August 2007 By Mike Verdin

The private equity boss has got Iceland s Kaupthing to buy his troubled Dutch bank, NIBC Holding, for E3bn. But he only gets some cash now. Kaupthing is paying a lot in shares, which Flowers can t sell for up to two years. If NIBC blows up again, he’ll still be on the hook.

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