Groupe Bruxelles Lambert: Albert Frere Has Died

   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 [e-mail]; @_cristinaroca

(END) Dow Jones Newswires

December 03, 2018 05:13 ET (10:13 GMT)

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