Belgium's GBL sells 10 percent stake in Arkema

BRUSSELS, March 13 Tue Mar 13, 2012 7:02pm EDT

BRUSSELS, March 13 (Reuters) - Belgian holding company Groupe Bruxelles Lambert (GBL) on Tuesday launched the sale of a maximum of 6.2 million Arkema shares, representing 10.01 percent of the share capital of the company, it said in a statement.

The stake in French chemicals producer Arkema represents approximately 3 percent of GBL's portfolio and the sale will significantly reduce GBL's net debt, the statement said.

It added it would communicate the results and financial implications once the sale was complete. (Reporting by Barbara Lewis; Editing by Gary Hill)

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