GBL, the Belgian investment group controlled by Albert Frere and Canada’s Desmarais family, has raised its stake is mulling boosting its stake in Lafarge from 18 to 25 per cent, according to local press reports.
According to La Tribune, which did not cite sources for the information, Frere could move quickly to take advantage of a recent drop in Lafarge’s share price.
After Lafarge’s recent acquisition of Egypt’s Orascom Cement and a capital increase of EUR8.8bn, GBL’s stake in the company fell to 15.9 per cent, according to La Tribune.
