FL Group announced yesterday the sale of its 16.9% stake in easyJet for approximately €325 million ($395.9 million), earning Icelandair's parent company some €140 million in profit from its initial investment and representing an annual return of 70%, "far surpassing" the 20% target. JPMorgan was the sole bookrunner and JPMorganCazenove was joint lead manager. FL Group said the proceeds will be "channeled into new investments during 2006." It now has liquid assets of about ...

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