GBLBF - Get A Discount On The Discount With Pargesa Holdings S.A.
Recently I wrote a piece on Groupe Bruxelles Lambert SA (OTCPK:GBLBF; OTCPK:GBLBY), the primary investment vehicle of late Belgian billionaire Baron Albert Frère (†94). In the following I will refer to the company as "GBL". In this article I laid out that GBL shares trade at a considerable discount to its net asset value.
There is however a way to get the exact same portfolio at even lower price point: Pargesa Holdings S.A. (OTCPK:PRGAF). I will refer to the company as plainly "Pargesa" in the following.
What Is Pargesa?
Pargesa