Andre Leysen abruptly withdrew from a battle...
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Andre Leysen abruptly withdrew from a battle to keep Belgium’s largest company out of the hands of an Italian industrialist. His unexpected move clears the way for Carlo de Benedetti, chairman of Olivetti, to acquire enough shares to obtain control of Societe Generale de Belgique. Leysen, chairman of Gevaert NV, had tried to oppose De Benedetti by organizing a coalition of Belgian and French investors with a majority interest in Societe Generale, a holding company for about 1,200 firms. He withdrew when the investors could not reach a formal agreement on their arrangement.
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