Gimv buys into Belgian export credit insurer unit
BRUSSELS Dec 21 (Reuters) - Belgian holding company Gimv said on Friday its Gimv-XL fund had taken a 49 percent stake in Delcredere, a subsidiary of Belgian public credit insurer ONDD.
Gimv-XL, a fund focusing on growth companies in the Dutch-speaking Flanders region of Belgium, would be investing 36 million euros ($47.4 million) in the body that specialises in short-term export credit insurance.
Its parent company focuses on mid- to long-term exports credit insurance.
Delcredere, based in Brussels, has offices in Paris, London and Wiesbaden, Germany, and via a subsidiary, an office in Prague. It had turnover in 2011 of 95.1 million euros, covering 18 billion euros in export transactions. ($1 = 0.7590 euros) (Reporting By Philip Blenkinsop)