GBL Records Impairment on LafargeHolcim Stake, Continues to Sell Off Stake in Total
GBL reported a consolidated net result of negative EUR 888 million for the first half of 2016; however, cash earnings were relatively stable at EUR 350 million. The negative net result largely resulted from impairments recorded on the LafargeHolcim stake. Adjusted net assets were down slightly compared with the previous year, but the average discount to market value present in the stock price decreased to 21% from 27%, causing the stock to rise during the period. We have updated our sum-of-the-p...Groupe Bruxelles Lambert is a holding company. Through its subsidiaries, Co. operates through the following segments: Imerys, which consists of the Imerys group that operates in four business lines of energy solutions and specialties, filtration and performance additives, ceramic materials, and high resistance minerals; and Financial Pillar, which includes, on the one hand, under investment activities, the companies Sienna Capital, Ergon Capital Partners (ECP), ECP II, ECP III, PAI Europe III, Sagard, Sagard II and Sagard III, Kartesia and Merieux Participations I and II and, on the other hand, under consolidated operating activities, the operating subsidiaries of ECP III.
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