The week in business: 19 September

Chemicals – Taminco
The Ghent-based amines and formic acid producer (pictured) has been sold by its owner, the Appolo Global capital fund, to the US Eastman Chemical group for some €2.2 billion.

Cinema – Kinepolis
The Ghent-based cinema operator has announced plans to invest €50 million in its Netherlands activities. Its Dutch Wolff company operates nine cinemas, and Kinepolis is expected to build multiplexes in Utrecht and Dordrecht.

Media – Politico
The Washington-based political news website has confirmed its plans to invest $10 million (€7.8 million) in partnership with Germany’s Axel Springer group to launch a Brussels-based website specialised in European affairs early next year.

Payments – Proton
The Proton electronic chip located on bank cards in Belgium, used mainly for small purchases, is being phased out following its slow decline and the growing dominance of the Bancontact-MisterCash payments systems. Proton will only be available until the end of the year.

Roads – Allianz
The Munich-based assets management affiliate of the insurance group is investing €433 million to finance a new motorway connecting the Port of Zeebrugge with the E40 and E34 in West Flanders.  

Transport – Megabus
The low-cost bus operator, an affiliate of the Scottish public transport company Stagecoach, will open its first continental European base in Brussels. New lines connecting the city with Lille, Luxembourg and Rotterdam start on 6 October, while services to Paris, Amsterdam and Cologne are under development. Megabus has acquired six additional buses from Lier-based manufacturer Van Hool for €2 million.

photo courtesy Taminco