Belgian operator Proximus Group signed an agreement to sell its 92.7 per cent stake in mobility app provider Be-Mobile to global transportation player Arrive, its latest move to free up cash for future investments.
The operator noted the sale is based on an enterprise value of €170 million for Be-Mobile and is expected to close in the second half of 2025, pending regulatory approval from Belgium’s Foreign Direct Investment authority.
With the transaction, Proximus noted it will have met a target to divest €500 million in assets in the 2023-2027 timeframe more than two years ahead schedule. As a result, the operator has raised the target by €100 million.
Proximus has held a majority stake in Be-Mobile since 2016. Under its ownership, the company has operated in the Benelux region providing mobility payment systems, traffic management services and apps including Flitsmeister, a speed camera and real-time traffic information service which serves around 3 million active users.
For Arrive, which operates across more than 90 countries, the acquisition will deepen its presence in Belgium and the Netherlands while bolstering its digital parking and mobility services portfolio.
Scott Booker, GM Parking at Arrive, said the agreement marks “a significant step forward” in creating smarter, more liveable cities, adding that the company aims to “make parking easier and more accessible for both local drivers and visitors.”
Meanwhile, Jan Van Acoleyen, interim CEO at Proximus, called the deal a “decisive building block” in the company’s strategic roadmap. “We are proud of the trajectory of Be-Mobile within the Proximus Group and confident that a mobility expert like Arrive is best placed to support its future growth,” he noted.