Compagnie du Bois Sauvage continues to implement its policy of refocusing its activities and reducing its net debt 04-10-2010
In this context, Compagnie du Bois Sauvage finalized, in agreement with the management of Bank Degroof, the sale of its stake in Bank Degroof (14%) to à consortium formed by the Group Cobepa and the Cigrang family.
Compagnie du Bois Sauvage was shareholder of Bank Degroof since end 1998 and realize, following this sale, an IRR of more than 17% on its investment.
This sale has a limited impact on the company's equity and intrinsic value but reduces its net debt to a level close to EUR 50 million.
This operation is subject to approval by the regulatory authorities.