HAL Trust recorded an 88% tumble in its H1 17 net income to €229m resulting essentially from a €204m decrease in capital gains. Indeed, in 2016, €136m was achieved on the sale of assets in the UK by Koninklijke Vopak NV and €68m on the sale of both InVesting BV and NV Nationale BorgMaatschappij. Conversely, HAL’s net asset value, calculated on the basis of the market value of ownership interests in quoted companies and the liquid portfolio and on the book value of un
