Groupe Bruxelles Lambert's €650 million divestment of a 0.7% share of Total

Overview:

• Belgian listed holding company Groupe Bruxelles Lambert (GBL) sold 0.7% of its stake in French oil company Total for €650 million. 
• 17.1 million shares were sold by private placement to institutional investors by way of an accelerated book building process. 
• Following the transaction GBL retained 1.4% of the share capital of Total. 
• Bank of America Merrill Lynch and Morgan Stanley acted as joint bookrunners for the sale. 

John Crabb - Journalist