net assets 14 10 2016 gbl linkedin link linkedin main menu about gblstrategyshareholdinggovernancecorporate governanceteamrisk managementcorporate and social responsability csr portfoliostrategic investmentsimeryssgslafargeholcimpernod ricardadidastotalengieincubatorumicoreontexsienna capitalergon capital partnerssagardkartesiam rieuxprimestonebdt capital partnershistoryinvestors & financialsfinancial calendardividendgbl shareidentification sheetshare returncapitalvoting rightsshare buybackstock optionsadjusted net assetsconsensus and analystsfinancial statementsfinancial debtmedia centerpress releasesannual and half yearly reportsinteractive annual reportir presentationsgeneral meetingshare buybackweekly list of the adjusted net assets ana subscription to the mailing list about gbl second largest holding company in europe controlled by the fr re and power corporation of canada groups . our objective aiming at shareholder value creation through continuous and sustainable growth of the intrinsic value and the paid dividend . our strategy further diversification of the portfolio aiming at a rebalancing between growth and yield . our commitment being an active and responsible professional shareholder . our financial policy maintaining a solid and flexible financial structure . press releases see all results at 30 june 2016 published on 29 july 2016 gbl verwaltung s.a. announces the final results of the partial repurchase of its exchangeable bonds for engie shares published on 10 may 2016 investors presentation march 2016 published on 14 june 2016 financial calendar see all 4 third quarter 2016 results fri 4 november 2016 17 annual results 2016 fri 17 march 2017 25 ordinary general shareholders meeting 2017 tue 25 april 2017 focus learn more about gbl half yearly report on 30 june 2016 pdf stay up to date about press releases presentations & much more . subscribe to our mailing list . timeline events acquisitionsale 2012 continued development of the private equity activity in 2012 eur 28 million were released to the funds ergon capital partners and sagard with the aim to finance investments.read more sale of 10.0 % of arkema on 13 march 2012 gbl sold its stake in arkema . the net proceeds from the disposal amounts to eur 432 million generating a capital gain of eur 221 million ... read more partial sale of a 2.3 % interest in pernod ricard a 2.3 % interest in pernod ricard was sold for eur 499 million generating a consolidated capital gain of around eur 240 million ... read more eur 401 million of exchangeable bonds into suez environnement shares successful issuance of 3 year exchangeable bonds into suez environnement shares ... read more 2013 eur 1.0 billion exchangeable bonds into gdf suez shares issuance of exchangeable bonds into around 55 million gdf suez shares representing a 2.3 % stake in the company for eur 1.0 billion ... . read more sale of 2.7 % of gdf suez sale through an accelerated book building abb of 65 million gdf suez shares representing a stake of around 2.7 % in the company ... read more acquisition of a 15 % stake in sgs agreement with exor for the acquisition of its 15 % stake in sgs the global leader in testing inspection and certification listed on the zurich stock exchange ... read more investment in umicore as part of the development of the incubator investments crossing of the 3 % statutory threshold in umicore ... read more end of the shareholder agreement relating to suez environnement non renewal of the shareholders agreement relating to suez environnement and signing of a framework industrial and commercial cooperation agreement between gdf suez and suez environnement . read more gbl placement of five year gbl convertible bonds for eur 428 million issuance of eur 428.4 million of convertible bonds into 5.0 million gbl treasury shares 3.1 % of the share capital . read more continued development of the financial pillar sagard iii and kartesia gbl provided further support to the french investment fund sagard by making a eur 200 million commitment to sagard iii alongside power corporation of canada . read more sale of a 0.3 % interest in total sale for around eur 360 million of 8.2 million total shares representing around 0.3 % of the company s capital . read more 2014 complete disposal of the stake in iberdrola at the start of the year sale of the residual stake 0.1 % of the share capital in iberdrola for eur 21 million generating a capital gain of eur 3 million . read more new acquisition by ergon capital partners iii ergon capital partners iii ecp iii acquired a majority shareholding in visionnaire on 16 april 2014 as well as in sausalitos on mid july 2014 . read more partial conversion of exchangeable bonds into suez environnement shares requests for early conversion of exchangeable bonds into suez environnement shares maturing in september 2015 . read more sale of investments in corialis completion by ergon capital partners ii ecp ii and sagard ii on 30 october 2014 of the sale of their shareholding in corialis . read more continued development of the financial pillar in the fourth quarter of 2014 commitment by sienna capital of eur 75 million to m rieux d veloppement s investment companies . read more further purchases of umicore shares further purchases of umicore shares . gbl held 12.4 % of the company s share capital at 31 december 2014 for a total investment of eur 464 million . read more end 2014 sale of a 0.6 % interest in total disposal of an additional fraction of 14.0 million total shares representing 0.6 % of the share capital for eur 650 million . read more 2015 sale by ergon capital partners ii of its shareholding in joris ide during the first quarter of 2015 sale by ergon capital partners ii of its majority stake in joris ide a leading manufacturer of insulated panels and steel profiles.read more investment of eur 150 million in primestone by sienna capital in february 2015 eur 150 million investment by sienna capital in primestone a new fund whose strategy consists in taking medium to long term positions in european mid cap listed companies.read more acquisition of s & b by imerys completion of the acquisition by imerys of the greek group s & b on 26 february 2015 . read more investment in ontex acquisition of a 7.6 % stake in the capital of the belgian listed company ontex a major player in the disposable personal hygiene products market.read more acquisition of golden goose by ergon capital partners iii on 19 may 2015 acquisition by ergon capital partners iii of a majority stake in golden goose an italian designer of contemporary footwear clothing and accessories . read more acquisitions and sale by sagard iii new acquisitions by sagard iii during 2015 safic alcan d lices des 7 vall es and alvest.read more merger between lafarge and holcim launch on 1 june 2015 by holcim of its public exchange offer for all lafarge shares . read more sale of c r lia by sagard ii in july 2015 sale of sagard ii s stake in c r lia generating a capital gain of eur 14 million gbl share . read more matured exchangeable bonds in suez the bonds exchangeable into suez shares matured in september 2015 . read more eur 386 million invested by kartesia eur 386 million invested at 31 december 2015 corresponding to 76 % of the total commitments since inception in primary and secondary transactions . read more disposal of total shares disposal of 12.1 million total shares for eur 556 million during 2015 generating a consolidated capital gain of eur 282 million.read more investment in adidas on 24 july gbl had crossed the statutory threshold of 3 % in the share capital of adidas a global group specialised in the design and distribution of sports equipment.read more strengthening of the position in umicore increasing stake in umicore holding 16.6 % of the capital at 31 december 2015 12.4 % at end of december 2014 representing a market value of eur 720 million . read more dec. 2015 commitment of eur 113 million by sienna capital in bdt capital partners in december 2015 commitment of eur 113 million by sienna capital to bdt capital partners ii ... read more acquisition of a stake in looping by ecp iii on 1 march 2016 ergon capital partners iii acquired an indirect majority stake in financi re looping holding s.a.s. read more bdt capital partners new acquisition in march 2016 in partnership with the majority shareholder jab holding co bdt capital partners finalised the acquisition of keurig green mountain inc. read more acquisition of a stake in prosol by sagard on 25 march 2016 a group of investors led by sagard announced that they had signed an agreement with denis dumont ... read more disposal of shares during the first quarter of 2016 gbl sold an additional fraction of total shares representing 1.1 % of this group s capital 27.5 million shares ... read more sale of de boeck conclusion of an agreement by ergon capital partners iii during the second quarter of 2016 relating to the sale of de boeck education sa de boeck digital sa and larcier holding sa read more eur 427 million invested by kartesia at 30 june 2016 kartesia had invested eur 427 million in primary and secondary transactions . read more eur 164 million invested in ontex significant sthrenghtening of the stake in ontex going from 7.6 % at the end of december 2015 to 15.0 % at 30 june 2016 representing a market value of eur 318 million . read more increased stake in umicore strengthening of the stake from 16.6 % of the capital at the end of december 2015 to 17.0 % at 30 june 2016 for a market value of eur 881 million read more adidas becomes a strategic investment gbl at 7.2 % of the capital strengthening of the position in adidas at 7.2 % of the capital at 30 june 2016 4.7 % at end december 2015 for a market value of eur 1 933 million ... read more partial repurchase of bonds exchangeable into engie shares repurchase of 6 683 bonds exchangeable into engie shares with a nominal value of eur 668 million and ... read more forward sales of total shares forward sales related to 11.1 million total shares average spot price of eur 43.53 average forward price of eur 41.51 consolidated capital gain of eur 209 million ... read more discover full history asset classes strategic investments incubator investments sienna capital strategic investments gbl aims to create value over the long term through a diversified portfolio focused on three types of assets strategic investments incubator investments and sienna capital . while the last two are in development phase the vast majority of the current participations are strategic investments individually valued at more than 1 billion euros . learn more about this participation 01 04 2015 01 04 2015 01 04 2015 01 04 2015 imerys imerys is world leader in speciality minerals with almost 250 sites in 50 countries learn more about this participation 53.8 % 30 06 2016 69.7 % 30 06 2016 16.0 % 30 06 2016 6 30 06 2016 sgs sgs is the world leader in inspection verification testing and certification learn more about this participation 15.0 % 30 06 2016 15.0 % 30 06 2016 15.7 % 30 06 2016 3 30 06 2016 lafargeholcim lafargeholcim is the world leader in construction materials including cement aggregates and concrete learn more about this participation 9.4 % 30 06 2016 9.4 % 30 06 2016 13.8 % 30 06 2016 2 30 06 2016 pernod ricard pernod ricard is world s co leader in wines & spirits learn more about this participation 7.5 % 30 06 2016 6.8 % 30 06 2016 12.9 % 30 06 2016 2 30 06 2016 adidas adidas is the european leader in sports equipment learn more about this participation 7.2 % 30 06 2016 7.2 % 30 06 2016 12.5 % 30 06 2016 1 30 06 2016 total total is a global oil and gas group with a presence in chemicals learn more about this participation 1.3 % 30 06 2016 1.2