Albert Frere Maneuver in Bertelsmann Deal Gets Henry Kravis Fraternal Nod

(Bloomberg) -- Albert Frere had a good excuse for
his limp the day in 1988 he met French executive Jean
Peyrelevade for the first time. A wounded boar had attacked him
during a weekend hunting expedition in the Ardennes forest of
southern Belgium, leaving a gash in Frere's leg that took 25
stitches to close. ``He was on his back kicking it in the
muzzle,'' says Peyrelevade, recounting Frere's explanation for
the leg wound.

Frere, now 81, is still hunting both boar and European
corporations. In more than half a century, he has turned a
family business selling nails and chains into an empire with
assets valued at more than 24 billion euros ($32 billion). In
the past year, he and his partners earned more than 2 billion
euros by selling their stake in Bertelsmann AG, Europe's largest
media company. Frere's holding companies are now poised to
profit from the pending merger of French utility Suez SA, in
which Frere and his partners are the largest shareholders, and
government-controlled Gaz de France SA.


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