FNG Group‘s three founders have bought back shares from Econopolis Private Investments, with a part of those shares sold to A.S. Adventure‘s founder.
Back in control
Econopolis owned 7.4 % of FNG Group’s shares, which will now be split between the three founders and A.S. Adventure’s Emile Lathouwers. The founders already control 55 % of all shares, while Lathouwers already owned 13.2 %, although it is not clear how Econopolis’ shares will be split.
“We are happy Econopolis has sold its shares to us. That means we four will control 75.6 % of the company“, CEO Dieter Penninckx told De Tijd.
Those few percentages will come in handy in Dutch R&S Retail’s reversed acquisition. “Now that we have 75 % of FNG, the three founders and FNG will own 66 % of the future merger company’s shares”, Penninckx said. That means they will also be in control of the new merger company.
