Our fourteenth update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains news items featuring 12 FICs from France, Hong Kong, Greece, UK, Sweden, Italy, Norway, Belgium and Germany again examining how European FICs are managing as the pandemic crisis continues.

As 2020 drew to a close, many FICs were closing new investments, disposals and partnerships. We saw new investments in solar, fintech, ecommerce, bicycles; as well as both an investment and a disposal in healthcare. Despite the current, very challenging business environment, FICs also demonstrated their ability to take a long-term view through buying commercial real estate and retail assets, and by opening a new automotive facility. Another theme this month has been families working with families, as one FIC buys a business off another, one FIC distributes the product of another, and two families form a progressive, high-tech partnership pooling skills and resources. Finally, one FIC demonstrated successful succession by bringing a young, 4th generation family member onto the supervisory board, while another, in a long-running saga, showed typical FIC resilience in its battle with ‘activist shareholders.’

The News Briefing concludes with 11 practical Takeaways, our interpretations of what the news means for family investment companies.

NOTE: EFIC News Briefing is sent to our subscribers, members of our Advisory Network and selected others at our discretion. We hope it is of use in these challenging times. We will be happy to answer any questions or discuss anything further. And do send us your comments, ideas and suggestions and any news stories you see.

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