Asphales
Encyclopedia
The Asphales holding
, now Fortales, was founded by Piet Van Waeyenberge
in 1988.
by Carlo De Benedetti
, Piet Van Waeyenberge wanted to create an investment instrument to provide for capital
for Belgian
companies in order to prevent hostile foreign takeover
s. Several Belgian businesspeople participated in the holding, such as Paul Janssen
(Janssen Pharmaceutica
), the Santens family, the Holdifima group of the families Plouvier-Kreglinger. Later on the families Debaillie
, Sabbe (ex-Prado), Moortgat (Duvel Moortgat Brewery) and Versele (Versele-Laga) joined the initiative. The holding bought shares of AG Group, a large Belgian insurer
, one of the predecessors of what would become Fortis
.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, now Fortales, was founded by Piet Van Waeyenberge
Piet Van Waeyenberge
Baron Piet Paul August Van Waeyenberge is a Belgian businessman. He is a son of Camille Van Waeyenberge and a brother of Jozef Van Waeyenberge. He was one of the founders, and is currently president, of business club De Warande...
in 1988.
History
In the wake of the attempted take-over of the Société Générale de BelgiqueSociété Générale de Belgique
The Société Générale de Belgique was one of the largest companies that ever existed in Belgium. It was founded in 1822 by William I, and existed until 2003, when its then sole shareholder, Suez Lyonnaise des Eaux, merged it with Tractebel to form Suez-Tractebel.-History:As part of the terms of the...
by Carlo De Benedetti
Carlo De Benedetti
Carlo De Benedetti is an Italian industrialist, engineer and publisher. He is both an Italian and naturalized Swiss citizen....
, Piet Van Waeyenberge wanted to create an investment instrument to provide for capital
Financial capital
Financial capital can refer to money used by entrepreneurs and businesses to buy what they need to make their products or provide their services or to that sector of the economy based on its operation, i.e. retail, corporate, investment banking, etc....
for Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
companies in order to prevent hostile foreign takeover
Takeover
In business, a takeover is the purchase of one company by another . In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.- Friendly takeovers :Before a bidder makes an offer for another...
s. Several Belgian businesspeople participated in the holding, such as Paul Janssen
Paul Janssen
Paul Adriaan Jan, Baron Janssen was the founder of Janssen Pharmaceutica, a pharmaceutical company with over 20,000 employees. In 2005 he finished as runner up, after Father Damien, in the poll for The Greatest Belgian organized by the regional Flemish television...
(Janssen Pharmaceutica
Janssen Pharmaceutica
Janssen Pharmaceutica is pharmaceutical company, established in Belgium in 1953 by Paul Janssen. Its headquarters are located in Beerse, in the Campine region of the province of Antwerp, Belgium. It was created not as a subsidiary of a chemical factory but solely with the aim of conducting...
), the Santens family, the Holdifima group of the families Plouvier-Kreglinger. Later on the families Debaillie
Luc Debaillie
Luc Debaillie is a Belgian businessman.He is the Chairman and Managing Director of Voeders Debaillie, and Chairman of the Board of Directors of De Vervoersverzekeringen. He was appointed Director of Almanij in 1976 and when in 2005, Almanij merged with KBC to form the KBC Group, he became a member...
, Sabbe (ex-Prado), Moortgat (Duvel Moortgat Brewery) and Versele (Versele-Laga) joined the initiative. The holding bought shares of AG Group, a large Belgian insurer
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, one of the predecessors of what would become Fortis
Fortis (finance)
Fortis N.V./S.A. was a company active in insurance, banking and investment management. In 2007 it was the 20th largest business in the world by revenue but after encountering severe problems in the financial crisis of 2008, most of the company was sold in parts, with only insurance activities...
.