AG Insurance and BNP Paribas Fortis, respectively Belgium’s largest insurance group and bank, signed an agreement with Koninklijke Belgische Touring Club to acquire all operational and commercial activities of the Touring Group. Touring Group is one of the leading providers of technical assistance to motorists in Belgium with c. 700.000 yearly interventions. The ever-changing mobility landscape poses challenges to a group as Touring, which is continuously investing to best serve its customers. This agreement will ensure that Touring can further develop its technical assistance business, as well as further develop new opportunities in the world of mobility services. Koninklijke Belgische Touring Club itself is not a party to the transaction and will continue to play its role as an independent advocate of the everyday “mobility user”.
Kumulus Partners acted as financial adviser to Koninklijke Belgische Touring Club in the sale of its operational and commercial activities to AG Insurance and BNP Paribas Fortis. Kumulus managed the entire sale process, assisted in the deal structuring, managed the due diligence process and negotiated terms with AGI and BNPPF.
