In a press release dated February 2015 brag German brokerage IEG Investment Banking of another successful mission. The brokerage has helped with the sale of one of Europe’s leading online stores for lights and lamps, in Norway marketed under the name Light giant, writes DN.
According to the newspaper’s price secret. But extraordinary growth, sales operations in ten countries and a turnover of 380 million suggests that it is not trivial that have changed hands. Seller is smiling Invest Ltd., a company in Cyprus named after the first three letters of the name of the Norwegian owners.
DN writes that behind smiling standing Kåre J. Smith and Bernt Aksel Larsen. Two of the most central figures in Smiths Friends, the Christian congregation known for persevering volunteer efforts and generous members who each year gives millions to the church.
And according to the newspaper, it is not the first time the two fellow believers do business. Parallel to missionary work and preaching have Smith and Larsen built up substantial assets abroad. Values that have one thing in common: They have found their way to companies registered in tax havens – companies with minimal transparency and supervision.
Smith and Larsen should have made some very lucrative real estate investments, including in St. Petersburg.
But Smith Friends leader Kåre J. Smith did not want to answer questions from DN referring to Bernt Aksel Larsen.
– We worked hard and determined, but must also recognize that we had pig luck of timing and was in the right place at the right time at the moment of the privatization process began in Russia. It gave us some exciting and highly profitable projects, writes Bernt Aksel Larsen in an email to DN.
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