Our thirtieth update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains items featuring 14 FICs from Germany, Sweden, UK, France, The Netherlands, Belgium. Finland, Hong Kong, Poland, Switzerland and Italy. Again, we examine how European FICs are managing as they face a growing list of post-pandemic challenges.
We report the further Q1 and annual results which again are generally positive but realistic about the effects of war in Ukraine and the fallout from the pandemic, such as rising raw material prices.
A number of people stories this month as FICs bring in external, non-family talent to strengthen boards, and one successfully navigates a CEO succession. FIC flexibility is shown by one FIC changing its governance to split the chairman and CEO role, by others as portfolio companies are sold to other corporates instead of PE, and one, in an interesting move, opening up its asset management business to third-party investors. On the other side of the balance sheet, two FICs invest: one to support their investment strategy and another, in a new impact fund, their values. A further FIC raises money in the bond market. Elsewhere, two FICs partner with corporates to develop opportunities in new geographic and sector markets. Finally, a parent family enterprise endorses its FIC with significantly increased support.
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 to The European Family Investment Company Report, 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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