Bulletin: Belgium-Based Holding GBL Has Reduced Financial Flexibility After €1.8 Billion Of Planned Acquisitions - S&P Global Ratings’ Credit Research

Bulletin: Belgium-Based Holding GBL Has Reduced Financial Flexibility After €1.8 Billion Of Planned Acquisitions

Bulletin: Belgium-Based Holding GBL Has Reduced Financial Flexibility After €1.8 Billion Of Planned Acquisitions - S&P Global Ratings’ Credit Research
Bulletin: Belgium-Based Holding GBL Has Reduced Financial Flexibility After €1.8 Billion Of Planned Acquisitions
Published Apr 20, 2022
3 pages (1472 words) — Published Apr 20, 2022
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Abstract:

This report does not constitute a rating action. MILAN (S&P Global Ratings) April 20, 2022--S&P Global Ratings today said that the upcoming acquisitions of Belgium-based investment holding company Groupe Bruxelles Lambert S.A. (GBL; A+/Stable/--) will reduce its financial flexibility. GBL plans to invest up to €1 billion of equity in Netherlands-based health care company Affidea B.V. (B+/Negative/--) and spend up to €750 million to acquire a majority stake in Germany-based ophthalmology clinic specialist Sanoptis Gmbh (unrated). At end-2021 GBL had an adjusted loan to value (LTV) of 11.6%, including adjustments for €742 million of investment commitments at Sienna Capital, as well as €1,348 million of debt toward Webhelp?s minority shareholders. Pro-forma these acquisitions, GBL?s LTV will increase to about 17.7%,

  
Report Type:

Bulletin

Ticker
GBLBF
Issuer
Groupe Bruxelles Lambert SA
Sector
Global Issuers
Country
Belgium
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Belgium-Based Holding GBL Has Reduced Financial Flexibility After €1.8 Billion Of Planned Acquisitions" Apr 20, 2022. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Belgium-Based-Holding-GBL-Has-Reduced-Financial-Flexibility-After-1-8-Billion-Of-Planned-Acquisitions-2826777>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Belgium-Based Holding GBL Has Reduced Financial Flexibility After €1.8 Billion Of Planned Acquisitions Apr 20, 2022. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Belgium-Based-Holding-GBL-Has-Reduced-Financial-Flexibility-After-1-8-Billion-Of-Planned-Acquisitions-2826777>
  
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