D'Ieteren Raises Belron Stake to 94.85 Percent by Jenna Reed, jreed@glass.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. |
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