The European Union has approved the buyout of Belgian retailer GIB Group by Belgian holding companies Ackermans & Van Haaren and Compagnie Nationale a Portfeuille. The two companies are paying around €1.2bn for the buyout. GIB was Belgium’s leading retailer until it sold its supermarket unit GB to France’s Carrefour in July 2000, reported Dow Jones International.
The European Union has approved the buyout of Belgian retailer GIB Group by Belgian holding companies Ackermans & Van Haaren and Compagnie Nationale a Portfeuille.
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