Flemish government sells its stake in investment company Gimv

WorxInvest, the parent company of HR service provider SD Worx, will become the new majority shareholder of the European investment company 'Gewestelijke Investeringsmaatschappij voor Vlaanderen' (Gimv). "An ideal buyer," said Flemish minister of Finance and Budget Matthias Diependaele (N-VA).

Gimv supports the growth of promising companies through investment. Established in 1980 at the request of the Flemish government, the company focused primarily on investments in the Flemish market. Over time, due to privatisation, more shares were distributed to the public.

With the agreement with WorxInvest to acquire the remaining 27.81 per cent stake, valued at 375 million euros, from the Flemish Participation Company (VPM), the Flemish government is now completely divesting from Gimv.

With this sale, we are consolidating Gimv in Flanders

"WorxInvest is an ideal buyer. The company is rooted in Flanders and has expertise in similar investments," said Diependaele. "With this sale, we are consolidating Gimv in Flanders".

Flemish minister-president Jan Jambon (N-VA) also expressed his satisfaction via X, the former Twitter, saying he was "very pleased with the successful sale of the Flemish government's shares", which "will remain in Flemish hands".

Gimv is listed on Euronext Brussels and currently manages 1.6 billion euros in assets. Its portfolio comprises around 60 companies with a total turnover of 3.7 billion euros and more than 20,000 employees.

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