Gimv: Grandeco has new majority shareholder
(CercleFinance.com) - Belgian private equity fund Down2Earth is replacing Gimv as the majority shareholder of Belgian wallpaper producer Grandeco, the companies said on Friday.
Over the investment period, the acquisition offered a positive return, with just a small impact on Gimv's net asset value at 30 September 2019, the Belgian portfolio company said.
No further financial details on the transaction have been provided.
In the statement, Gimv said it plans to remain on Grandeco's board and reinvest "significantly."
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Over the investment period, the acquisition offered a positive return, with just a small impact on Gimv's net asset value at 30 September 2019, the Belgian portfolio company said.
No further financial details on the transaction have been provided.
In the statement, Gimv said it plans to remain on Grandeco's board and reinvest "significantly."
Copyright (c) 2020 CercleFinance.com. All rights reserved.