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GBLB Groupe Bruxelles Lambert SA

69.35
0.40 (0.58%)
Last Updated: 15:14:37
Delayed by 15 minutes
Share Name Share Symbol Market Type
Groupe Bruxelles Lambert SA EU:GBLB Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.40 0.58% 69.35 69.30 69.35 69.50 68.85 68.95 70,684 15:14:37

Belgium's GBL Sells 2.3% Stake In France's Pernod Ricard

15/03/2012 9:02am

Dow Jones News


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Groupe Bruxelles Lambert (GBLB.BT), the holding company of Belgian billionaire Albert Frere, late Wednesday said it privately placed a 2.3% stake in French spirit maker Pernod Ricard SA (RI.FR).

This sale transaction optimizes the value of GBL's portfolio and increases its financial flexibility, following the sale of GBL's stake in French chemical group Arkema (AKE.FR), Frere said in a statement.

The Belgian holding company didn't specify at what price it offered its Pernod Ricard shares, which had gained more than 30% between a low point in late August and Wednesday.

GBL will retain a 7.5% stake in Pernod Ricard and expects its representation on Pernod Ricard's board to remain unchanged, the statement said.

"In the context of this market transaction, GBL entered into a lock-up undertaking with the banks managing the placement relating to its remaining stake in Pernod Ricard for a minimum period of 90 calendar days," the statement said.

Earlier Wednesday, GBL said it had sold a 10.01% stake in Arkema for EUR432 million.

Pernod Ricard shares opened 33% lower Thursday.

-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; inti.landauro@dowjones.com

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