GIMV sells Nieuwe Havema

Listed Belgian investor GIMV has realised its investment in Nieuwe Havema through the sale of its stake in the company to logistics group Katoen Natie. Thanks to the deal GIMV’s net asset value rises by between €1.5m and €2m.

Nieuwe Havema is the holding company of Belgian logistics group Werf & Vlasnatie, and also owns a 50% stake in Antwerp Bulk Cleaning, a joint venture with road haulier De Dijcker. GIMV invested in the management buyout of the group in 1999 alongside the banking group Mercator, which has also agreed to sell its stake to Katoen Natie. Since the buyout the company has seen substantial growth and has increased turnover to €17m.

Werf & Vlasnatie provides logistics services, including cargo handling, warehousing and distribution, transport, forwarding and customs and industrial subcontracting in the port of Antwerp, Belgium. It has 135 silos and a number of packaging lines serving its main customers in the chemicals sector. Werf & Vlasnatie has a concession of around 105,000m², including 60,000m² of storage space at various port sites. The company employs 120 people.

Katoen Natie is a worldwide company providing logistics services to the consumer goods, petrochemical and automotive industries. Like Nieuwe Havema it has its headquarters in Antwerp, it has major activities throughout Europe, Asia, North and South America.