The week in business: 13 December
Boerenbond agricultural group buys pigeon food producer, CVC private equity fund sells Bpost stake, and steel wire producer Bekaert opens Costa Rica outpost
Autos – D’Ieteren
Banking – Dexia
The ailing Belgo-French financial institution has sold its ADTS data processing and services affiliate to IBM and signed a seven-year €1.3 billion subcontracting agreement with the company.
Banking – Van Lanschot
The Dutch private banking group is launching online banking service Evi on the Belgian market in an attempt to capture some of the €247 billion deposited in savings accounts.
Biotech – Covagen
Flanders’ government investment fund is investing €6.8 million in the Swiss Covagen biotechnology company, which specialises in the development of medicines against cancer and inflammatory diseases.
Carpets – Balta
Britain’s investment fund Doughty Hanson is said to be considering the sale of its West Flanders Balta carpet activities, one of the largest in the country. Doughty Hanson acquired Balta in 2004 for €600 million.
Grain – Natural Graanen
The world-leading pigeon food and grain producer, based in Schoten, Antwerp province, and with sales of €23 million annually, has been sold to the Aveve affiliate of Flanders agricultural group Boerenbond. The move is expected to help the company further expand its activities in Asia and the Middle East.
Mail – Bpost
The CVC private equity fund has sold its remaining 19.7% stake in Bpost, the country’s post office (pictured). The €580 million move follows the June IPO of Bpost which had already netted CVC €860 million for a 30% stake floated on the Brussels stock market. CVC had become a 49.9% shareholder of Bpost in 2006.
Steel wire – Bekaert
The Zwevegem-based steel wire producer is opening a unit in Costa Rica to acquire the steel wire activities of Arcelor Mittal in the country. The move will significantly strengthen Bekaert’s position in Latin America to supply the building, agriculture and industrial sectors.
