Reuters logo
GBL sells part of its Pernod stake
March 14, 2012 / 7:43 PM / 6 years ago

GBL sells part of its Pernod stake

BRUSSELS, March 14 (Reuters) - Belgian holding company GBL said on Wednesday it would sell a 2.3 percent stake in French spirits giant Pernod Ricard to institutional investors.

The group said it would retain a 7.5 percent stake in Pernod, the world’s second-biggest spirits group behind Britain’s Diageo, and said the sale should not impact its representation on the board of directors.

The group said earlier on Wednesday that it had made a 220 million euros ($286.57 million) capital gain on the divestment of its stake in French specialty chemicals group Arkema .

“This transaction forms part of the dynamic value optimisation of its portfolio and increase in its financial flexibility,” GBL said in a statement.

GBL said it would communicate the result of the sale at a later stage. ($1 = 0.7677 euros) (Reporting By Robert-Jan Bartunek; Editing by Tim Dobbyn)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below