D'Ieteren Raises Belron Stake to 94.85 Percent
March 15, 2013
by Jenna Reed, email@example.com
Belgium-based D'Ieteren is raising its interest in Belron's equity
capital by 2.12 percentage points to 94.85 percent. Belron operates
under 10 major brands, including U.S.-based Safelite AutoGlass.
This is the result of the exercise of a put option by a senior non-executive
member of the Belron founding family.
According to a D'Ieteren statement issued by officials, this is
"in accordance with the existing shareholders agreement for
a total consideration of USD $50.9 million (€39 million).
"The remaining 5.15 percent of Belron's equity capital are
still owned by the founding family, including the family holding
company of Belron's CEO (Gary Luber) whose stake has increased,"
according to company executives.
Officials say this transaction reflect's D'Iteren's objective of
reaching at least 95-percent interest in Belron by 2014.
This story is an original story by AGRR™ magazine/glassBYTEs.com™. Subscribe to AGRR™ Magazine.
Subscribe to receive the free e-newsletter.