BRUSSELS (Reuters) – Belgian investment company GIMV (GIMV.BR: Quote, Profile, Research, Stock Buzz) has sold its majority stake in Belgian food ingredients group Sfinc to Axa Private Equity (AXAF.PA: Quote, Profile, Research, Stock Buzz), the companies said in a joint statement.
The sale will have a positive impact of 7.1 million euros ($9.70 million) or 0.31 euro per share on GIMV’s equity value, the group said, adding that it would not provide further financial details.
Sfinc distributes spices, marinades and food ingredient blends for food processing companies, and its turnover in 2008 is estimated at 35 million euros.
GIMV acquired a majority stake in the group in 2004.
(Reporting by Antonia van de Velde; Editing by Rupert Winchester)