The week in business: 4 September
Crelan sells Keytrade, Fluxys takes controlling share in Interconnector pipeline and an overview of the rest of the week's business news
Banking – Keytrade
Energy – Fluxys
The gas transport and supplies company pushing its stake in the Interconnector gas pipeline linking Bacton in the UK to Zeebrugge above 50%, taking effective control of the venture. Fluxys previously owned directly or indirectly 41% of the company.
Food – Ter Beke
The producer of ready-made meals, based in Waarschoot, East Flanders, has acquired the French Stefano Toselli group, specialised in lasagne and cannelloni, for €9.4 million.
Insurance – Ageas
The Brussels-based insurance group is selling its Hong Kong-based life insurance activities to China’s JD Capital for €1.23 billion, significantly more than the €900 million expected earlier. The company will keep its regional headquarters in Brussels to oversee operations in mainland China, Thailand, Malaysia, India, the Philippines and Vietnam.
Payments – PayPal
The American e-payment system has launched its OneTouch service on the local market to allow customers to pay through mobile or computer applications without re-registering each time. The new service competes with the applications developed by Apple Pay and Samsung.
Pharma – UCB
The Brussels-based pharmaceutical company has finalised the sale of its US-based Kremers Urban generic drugs activities to the Lannett Company for some €1 billion.
Property – Cushman & Wakefield
The US-based property consultant, which is merging its worldwide activities with competitor DTZ, will locate its Northern European headquarters in Brussels. The local operation will be responsible for the Benelux countries, Germany and Scandinavia. The merged firm’s Brussels office will employ about 120 staff.
