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Venture Finance was unwittingly caught up in the problems surrounding Fortis as Fortis had supposedly acquired them as part of the carve up of ABN Amro but had then been told to divest themselves of the ABN assets as part of their own rescue by various Governments.
Venture Finance remains part of the ABN Amro group which in turn is now owned by the Dutch Government so we are pleased to see that their foundation is now secure.
In these fast moving and difficult times one has to be doubly careful of press releases and PR exercises as they may leave you with egg on your face at a later stage.
The current edition of the glossy magazine Business Money has a full colour cover devoted to Landsbanki which will no doubt continue to be an embarrassment to it’s editor until the next edition comes out whilst Venture Finance sent out a press release on 25th September telling the world about the new larger premises that they were moving into on 1st October in order to facilitate the integration of all the extra people upon their integration with Fortis. This was less than two weeks before the announcement that Fortis was being nationalised and the integration would now no longer be going ahead.
Ian