Groupe Bruxelles Lambert SA (BGLB), the investment firm controlled by billionaires Albert Frere and Paul Desmarais, is selling 6.2 million shares of Pernod-Ricard SA (RI) for as much as 509 million euros ($663 million), according to a term sheet obtained by Bloomberg News. The shares are being offered for 80.60 euros to 82.10 euros each, the term sheet shows. Societe Generale SA and BNP Paribas SA are managing the sale. The offering of Pernod-Ricard, the Paris-based wine and spirits producer, is at least the second sale by GBL this week. The Belgian holding company made a capital gain of about 220 million euros selling its 10 percent stake in French chemical manufacturer Arkema SA (ARK), according to an e-mailed statement yesterday from GBL. The investment firm also holds shares of French companies Total SA (FP), LaFarge SA (LG) and GDF Suez. (GSZ) GBL increased its distribution of cash earnings to the highest level in 10 years and proposed raising its dividend 2.4 percent to 2.6 euros a share, according to a March 6 statement. That’s the smallest dividend increase since 1997, Bloomberg data show. GBL rose less than 1 percent yesterday to 57.22 euros. Pernod-Ricard rose 0.5 percent to 82.10 euros.
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leapMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor