10:51 GMT30 November 2020
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    The founder of the Groupe Bruxelles Lambert company passed away on Monday, the press release on the company's website confirms.

    "Group Pruxelles Lambert ("GBL") is deeply saddened to announce that Alber Frere, Honorary Chairman and co-controlling shareholder of the company, passed away today at the age of 92," the press release read.

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    The statement added that his funeral will be held "in the strictest family intimacy", in accordance with Frere's wish.

    Alber Frere, a Belgian billionaire-investor, had provided financing to large European businesses. He became the richest man in Belgium by transforming his family nail and chain business into a huge conglomerate that produced a range of products and services, ranging from alcohol to energy.


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