Gimv and Belfius reach an agreement in principle on the sale of the TINC shares of Belfius Insurance.
Gimv and Belfius reach an agreement on their interests, which they now hold separately in TINC, the European infrastructure investment company listed on Euronext Brussels.
A newly established company (NewCo) with Gimv as majority shareholder will take over the shares of Belfius Insurance, financed by Belfius Bank. This consolidates the stability of TINC's shareholding.
Today, Gimv and Belfius Insurance each own a rounded 10 percent of the shares of TINC. The acquisition by NewCo, with Gimv as majority shareholder, of the shares of Belfius Insurance in TINC will take place at a price of 11.77 euros per share, based on the volume weighted average of the closing prices on Euronext Brussels (VWAP) over a period of 20 days prior to the signing of the agreement in principle between Gimv and Belfius.
Gimv and Belfius are pleased with the agreement reached. This lays strong foundations for a future-oriented consolidation of both TINC's shareholding to support TINC's further growth ambitions and the involvement of Gimv and Belfius as stakeholders from the very beginning.
