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.[2]

Groupe Bruxelles Lambert S.A.
Groep Brussel Lambert N.V.
TypeNaamloze vennootschap / Société anonyme
Euronext Brussels: GBLB
BEL 20 component
IndustryHolding Company
FoundedJanuary 4, 1902
HeadquartersBrussels, Belgium
Key people
Paul Desmarais Jr., Chairman, Ian Gallienne, CEO
ProductsListed, private and alternative investments
RevenueIncrease €6.961 Billion (Fiscal Year Ended December 31, 2021)[1]
Increase €0.523 Billion (Fiscal Year Ended December 31, 2021)[1]
Increase €0.434 Billion (Fiscal Year Ended December 31, 2021)[1]
Total assetsIncrease €34.297 Billion (Fiscal Year Ended December 31, 2021)[1]
Total equityIncrease €21.788 Billion (Fiscal Year Ended December 31, 2021)[1]
Websitewww.gbl.be/en

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. The company had a net asset value of EUR 22.5 billion and a market capitalisation of EUR 15.3 billion at the end of September 2021. GBL invests in both listed and private companies. The company is controlled by Pargesa S.A., which holds 29.13% of the outstanding shares and 44.23% of the voting rights. Pargesa S.A. itself is held jointly by the Power Corporation of Canada (Canada) and Frère (Belgium) groups, providing GBL with a stable and solid shareholder base. Since 1990, the two groups have been bound by a shareholders’ agreement. This agreement, which was extended in December 2012, until 2029, includes an extension possibility.[3]

History

Groupe Bruxelles Lambert was founded in 1972, when the Lambert banking family merged their holding companies ″Compagnie Lambert pour l'Industrie et la Finance″ and ″Cofinter″ with two holding companies belonging to the ″Groupe de Launoit″. The new firm controlled two Belgian banks, the ″Banque Lambert″ and the ″Banque de Bruxelles″, which were subsequently merged in 1975 to form the ″Banque Bruxelles Lambert″ (BBL). Groupe Bruxelles Lambert sold BBL to the ″ING Group″ in 1998, which 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, Parques Reunidos.and Sienna Capital S.a R.l.

Portfolio

As at 31 March 2017, the portfolio had the following (non-exhaustively).

Company % of share capital % of share in GBL portfolio
Imerys53.6%19.4%
LafargeHolcim9.4%18.1%
Adidas7.5%15.9%
SGS16.2%14.4%
Pernod Ricard7.5%12.6%
Umicore17.0%5.8%
Total0.7%4.4%
Ontex19.98%2.8%
Burberry3.0%1%

The company address is Avenue Marnix 24, B-1000 Brussels, Belgium.

References
  1. "Groupe Bruxelles Lambert S.A 2021 Full Year Financial Result" (PDF). www.gbl.be. 31 December 2021. Retrieved 26 August 2022.
  2. "Late Billionaire's Groupe Bruxelles Lambert SA Trades At A Considerable Discount". Seeking Alpha. December 10, 2018.
  3. "Simplified shareholder structure of GBL". Retrieved May 23, 2022.
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