GIMV sells its stake in Dutch Bever Zwerfsport
GIMV sells its stake in Dutch company Bever Zwerfsport (www.bever.nl) to the Belgian corporation AS Adventure. Founded in 1977, Bever Zwerfsport has 29 stores (of which 28 in the Netherlands and 1 in Belgium) and holds a leading position in the market of high-end outdoor articles and accessories in the Netherlands. Bever Zwerfsport sells a wide range of clothing, footwear and other articles for outdoor activities, including expeditions, mountaineering and camping. The outdoor chain offers international renowned brands, including The North Face, Tenson, Haglöfs, Fjällräven en Berghaus but also sells a large number of private label products. In 2006 Bever zwerfsport achieved sales of 45.8 million EUR with almost 600 employees.
AS Adventure’s activities (www.asadventure.com) are similar to those of Bever Zwerfsport. With 29 stores it is the clear market leader in Belgium. AS Adventure also owns the British company Cotswold Outdoor (www.cotswoldoutdoor.com), an outdoor chain with 26 stores in the United Kingdom.
The sale has a positive impact of EUR 13.4 million (EUR 0.58 per share) on GIMV’s last published equity value as of March 31, 2007.
The transaction is still subject to the approval by the antitrust authorities. All parties involved have decided not to disclose any further financial details on this transaction, which is expected to be closed by the end of October.
For more information please conctact :
Mr. Frank De Leenheer – Investor Relations & Corporate Communications Manager GIMV
Tel: +32 3 290 22 18 – E-mail: firstname.lastname@example.org
Mr. Ivo Vincente – Senior Investment Advisor Halder
Tel: +31 70 3 618 621 – E-mail: email@example.com