Groupe Bruxelles Lambert, the holding company of Belgian financier Albert Frère, has made a profit of €2.4bn ($3.07bn) on its investment in Bertelsmann, after it sold its 25.1% stake back to the German media conglomerate and shelved plans for an initial public offering.
In May, GBL agreed to sell its holding in Bertelsmann for €4.5bn, valuing the company at €17.9bn.