The week in business: 21 April

Summary

Eandis and Infrax to merge, Galapagos raises €317 on Nasdaq and an overview of the rest of the week's company news

Energy – Eandis

Flanders’ leading gas and electricity distributors, Eandis and Infrax, plan to merge next month, which will save €100 million a year. The move, which will translate into a 3% reduction on customers’ bills, had been expected by the end of the year at the earliest.

Biopharma – Galapagos
The Mechelen-based biotech company (pictured) raised some €317 million on the Nasdaq in a matter of minutes last week to finance future development. The company, specialised in rheumatology research, is now worth over €4 billion and sits on liquid assets of €1.2 billion.

Tobacco – Lyfra
The wholesaler of tobacco products, sweets and drinks, based in Wommelgem, Antwerp province, is to acquire its competitor, Lekkerland, headquartered in nearby Wijnegem. Lyfra, which employs 200 workers, is an affiliate of British American Tobacco.

Holdings – Verlinvest
The AB InBev shareholders’ equity fund is banking on a more than €100 million profit on the sale of its 10% stake in the US-based Chewy online pet food retailer following its $3.3 billion acquisition by competitor Petsmart. Verlinvest bought into Chewy in 2015.

Holdings – Sofina
The Brussels-based investment company has sold its 5.1% stake in France’s Eurazeo  group for €200 million. Eurazeo is a shareholder of Accor Hotels and of the Europcar car rental company.

Dredging – Jan de Nul
The world’s leading dredging group, based in Aalst, has won a €125 million contract to deepen and broaden the maritime access routes to the port of Mumbai in India.

Supermarkets – Bio-Planet
The organic food distributor and supermarket, a subsidiary of the Halle-based Colruyt group, plans to open 10 more supermarkets over the next two years, which will bring the total to 35 in Belgium.

Photo courtesy madeinmechelen.be

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