Groupe Bruxelles Lambert
Groupe Bruxelles Lambert (GBL), is a Belgian holding company invested in various sectors within companies that can be considered marketleaders and in which it can play an active role as a professional shareholder over the long term.[1]
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| Type | Naamloze vennootschap / Société anonyme |
|---|---|
| Euronext: GBL BEL 20 component | |
| Industry | Holding company |
| Founded | January 4, 1902 |
| Headquarters | Brussels, Belgium |
Key people | Gérald Frère (Chairman of the Board) Ian Gallienne (Co-CEO) and Gérard Lamarche (Co-CEO) |
| Products | Industrial holdings |
| Website | |
In the last few years, the holding largely divested its stakes in the energy sector to turn to sustainable growth company focused on consumer goods or services. The firm is directed by Ian Gallienne and Gérard Lamarche, Co-CEOs. The company had a net asset value of EUR 19 billion and a market capitalisation of EUR 15 billion at the end of 2017. GBL primarily invests in listed companies. The company is controlled by Pargesa Holding.
History
The company was founded by the Lambert family in 1902 as the holding company for its banking interests. It became Groupe Bruxelles Lambert in 1975 after a merger with Banque de Bruxelles, with the banking subsidiary renamed Bank Brussels Lambert. The Lamberts sold their banking interests to ING Group in 1998; the former BBL is now known as ING Belgium.
GBL is best known in the United States as one of the namesakes of Drexel Burnham Lambert, the investment bank that pioneered trading in junk bonds. The Lamberts owned a research boutique, William D. Witter (also known as Lambert Brussels Witter), which merged with then-Drexel Burnham in 1976. In return, GBL received a 26% stake in the merged company, and six seats on the board.
Since 2012, GBL divested more and more its stakes in Total and Engie. These two companies in the energy sector that constituted 41.5% of the value of GBL in 2011, only represented 4.2% of the portfolio on 31 March 2017. Simultaneously, GBL expanded into new business segments by acquiring stakes in SGS, Umicore, adidas, Ontex, Burberry and Parques Reunidos. Strategic investments represents the majority of assets (Imerys, LafargeHolcim, adidas, SGS, Pernod Ricard, Umicore, Total) to which are added Incubator investments (Ontex, Burberry and Parques Reunidos) and Sienna Capital (Alternative Investments).
Portfolio
As at 31/03/2017, the portfolio had the following (non-exhaustively).
| Company | % of share capital | % of share in GBL portfolio |
|---|---|---|
| Imerys | 53.6% | 19.4% |
| LafargeHolcim | 9.4% | 18.1% |
| adidas | 7.5% | 15.9% |
| SGS | 16.2% | 14.4% |
| Pernod Ricard | 7.5% | 12.6% |
| Umicore | 17.0% | 5.8% |
| Total | 0.7% | 4.4% |
| Ontex | 19.98% | 2.8% |
| Burberry | 3.0% | 1% |
The company address is Avenue Marnix 24, B-1000 Brussels, Belgium.