Groupe Bruxelles Lambert: Albert Frere Has Died
03 December 2018 - 9:28PM
Dow Jones News
By Cristina Roca
Groupe Bruxelles Lambert SA (GBLB.BT) said Monday that Albert
Frere, one of the company's two controlling shareholders and
honorary chairman of its board, has died.
The Belgian investment company said Mr. Frere passed away on
Monday at the age of 92. Mr. Frere joined the company in 1982 and
had been one of its two controlling shareholders since 1990, GBL
said.
Mr. Frere, jointly with the Power Corp. of Canada (POW.T), owned
Pargesa Holding S.A. (PARG.EB). Pargesa, in turn, owns 50% of GBL
and has 51.9% of the voting rights, according to GBL's website.
GBL focuses on long-term value creation and relies "on a stable
and supportive family-shareholder base," the company said on its
website. As of March 31, 2018, the company had a net asset value of
19 billion euros ($21.5 billion), according to its website.
GBL holds stakes in Adidas AG (ADS.XE), LafargeHolcim Ltd.
(LHN.EB) and Umicore SA (UMI.BT), among other companies.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
December 03, 2018 05:13 ET (10:13 GMT)
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