GBL looks to increase its stake in Adidas
Belgian GBL, the industrial holding controlled by financier Albert Frère, is looking to increase its stake in German Adidas, reported De Tijd, quoting Gérard Lamarche, co-CEO of GBL at the presentation of its annual results.
GBL owns over 5 percent of the German sports company. Earlier this month it was reported that Ian Gallienne, co-CEO of GBL and son in law of Albert Frère, will get a seat in the Adidas board. According to Lamarche, as long as the share value allows it, GBL will keep strengthening its position in Adidas, the report noted.
Earlier this year GBL sold a large company stake for EUR 650m. The report mentioned that those resources were used for new investments in Adidas, among others. GBLs net profit rose last year with 17.3 % to EUR 1.03b.
De Tijd