Compagnie Nationale à Portefeuille (‘CNP’) is a private Belgian mid-market investment company with Net Assets of ~€2 billion, exclusively controlled by the Frère family.
CNP makes long-term investments, alongside talented management teams, in leading European listed and non-listed companies.
CNP is one of the main pillars of Frère-Bourgeois, a holding group with Net Assets of ~€5.5 billion that is exclusively controlled by the Frère family.
Groupe Frère-Bourgeois also jointly controls Groupe Bruxelles Lambert (‘GBL’) alongside Power Corporation, controlled by the Desmarais family (Canada).
GBL is one of Europe's largest listed holding companies and manages a portfolio of ~€19 billion* that consists mainly of large minority in listed global companies. GBL is also active in alternative investment strategies through Sienna Capital. * Net Assets as of 31 December 2017
Simplified Overview of our Group
Groupe Frère-Bourgeois, since the late 1940’s, and CNP, since the late 1980’s, have invested successfully and created significant value for their shareholders and partners across European sectors.
Groupe Frère-Bourgeois has been a major player of the Belgian steel industry (production, trading…) until the ‘80’s.
Started servicing the steel industry in the late 40's, later expanding into crude oil and oil products, petrochemicals, renewables and gas.
Groupe Frère-Bourgeois, together with other investors acquired the Swiss company Pargesa Holding.
Through the years, Pargesa Holding progressively built its controlling position in Groupe Bruxelles Lambert (‘GBL’).
Groupe Frère-Bourgeois, Groupe Bruxelles Lambert (‘GBL’) and Groupe Hachette acquired Groupe Jean Dupuis...
... a comic strips publishing and printing company. Hachette sold its stake in 1993 and CNP took exclusive control of Groupe Jean Dupuis in 1998 before selling it to Media-Participations in 2004 to create the European leader of comic strips publishing.
Groupe Frère-Bourgeois took control of CNP through a public offering.
Successive capital increases provided CNP with sufficient resources to develop its activities as a professional shareholder. Key direct investments at the time included Société Générale de Belgique, Petrofina and Royale Belge.
Groupe Frère-Bourgeois and Power Corporation (Desmarais family) jointly took control of Pargesa Holding.
CNP and GBL took a majority stake in Belgian Sky Shops, which managed duty free shops in Brussels national airport.
CNP later increased its holding in the company to 100%, extended the group activities to Charleroi airport, Brussels International train station, a diplomatic shop in Kenya and Luxembourg. It became International Duty Free in 2014.
Petrofina (of which GBL and CNP were reference shareholders) and Total agreed to merge to create Totalfina...
... subsequently launching a successful public exchange offer on Elf Aquitaine to create Totalfina Elf in 1999, later renamed Total (of which Groupe Frère-Bourgeois and GBL remain shareholders to this date).
Together with Groupe Arnault, CNP acquired Château Cheval Blanc...
... one of the most prestigious wine estates in France (St-Emilion 1er Grand Cru Classé ‘A’).
In agreement with the Taittinger family, CNP acquired 25% in Société du Louvre (hotel chains)...
... and 15% of Taittinger (Champagne, wine estates, controlling shareholder of Société du Louvre). CNP acted as a partner to the Taittinger family until it contributed its participation to the friendly public bid launched by Starwood in 2005.
After a successful takeover bid, CNP and Ackermans & van Haaren (AVH) achieved joint control over GIB...
... a retail holding company and the majority shareholder (58%) of the Quick fast food chain, which the partners developed into one of the leading brands in Belgium and France. GIB contributed its controlling share to the public bid launched by Qualium in 2006.
CNP was delisted, after a successful public takeover bid from Groupe Frère-Bourgeois (70% economic ownership) and supported by BNP Paribas (30%) for the share of CNP they did not already own.
Groupe Frère-Bourgeois acquired BNP Paribas’s indirect stake in CNP.
As a result, CNP is now exclusively controlled by Groupe Frère-Bourgeois.