The week in business: 29 May
BKCP merges with Beobank, Audi Vorst expands and an overview of the rest of the week's business news
Analytics – Engagor
Banking – BKCP
The Brussels-based financial institution, owned by the French Credit Mutuel Nord Europe bank, is to merge into its local sister company Beobank, the new name of the former operations of Citibank until the sale to the French group in 2013.
Cars – Audi
The Brussels assembling unit (pictured), building the best-selling A1 model, is to phase out its current production over the next three years to prepare the facility for the assembling of a new model, possibly an electric car, from 2018. The company has invested €700 million on the site since 2007 and is currently spending €100 million a year to update the facilities.
Diagnostics – Biocartis
The Mechelen-based specialist in molecular diagnostics solutions has signed a partnership agreement with Luxembourg’s Fast Track Diagnostics company, producer of medical kits used in projects financed by the Bill and Melinda Gates Foundation.
Entertainment – Studio 100
The Flemish TV producer and theme park operator will launch a €90 million rights issue in June to finance the building of a hotel next to its Plopsaland park in De Panne and to further develop its TV and cinema activities.
Hotels – Sheraton
The landmark 520-room hotel on Rogierplaats in downtown Brussels is to be redeveloped following its acquisition by the local property group Eaglestone. The 40-year-old, 40,000 square metre property is to be split into a renovated Sheraton with fewer than 200 rooms, a few hundred apartments and a shopping mall.
Supermarkets – Colruyt
The Halle-based supermarket inaugurated a new €79 million, 37,000 square-metre, state-of-the-art distribution centre near Ath in Wallonia last week.
Sweets – Wycam
The Antwerp cough drops and hard candy company has been acquired by Confiserie Thijs in Sint-Niklaas. The new owner hopes to be able to build international sales of the 70-year-old product.
