Deals
European Merger Craze? Frere's Been at it for 45 Years (Repeat)
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The new cadre of U.S.-style takeover artists creating a frenzy of mergers in Europe can only hope to match the staying power of Albert Frere. The 73-year-old Belgian industrialist has been flipping companies for 45 years.
Frere and his partners are poised to reap a profit of at least $1.5 billion in July, when he completes the sale of PetroFina SA, Belgium's largest oil refiner, to French energy giant Total SA. In the past 18 months, he's sold off his banking and insurance interests. Some associates say he's also seeking a buyer for his 50 percent stake in CLT-Ufa, Europe's largest television broadcaster.