Meeschaert to remain independent and family-owned (translated)
Meeschaert, a family business that has been up and running for almost 100 years, has decided to change its governance and implement the terms of a shareholder relay passage between the family’s second and third generation. The practical modalities of this passage will be decided in the coming weeks.
This development was also reported in daily Les Echos, saying that the founding family mandated Edmond de Rothschild(EdR) earlier in the year to find a partner for the business. Offers came from China’s Fosun, Swiss Life, and France’s La Banque Postale, KBL, and Neuflize OBC. Market sources claimed that two issues prevented the deal to go through, the first being the EUR 150m expected by the family, a figure considered too high. The second issue was that Swiss Life is already the partner of Meeschaert in relation with the insurance sector, raising “technical” difficulties.
Meeschaert manages assets worth EUR 5.8bn.