D’Ieteren: Belron stake raised

D’Ieteren has announced that it is raising its interest in Belron’s equity capital by 2.12 percentage points to 94.85%, resulting from the exercise of a put option by a senior non-executive member of the Belron founding family.

Belgium-based D’Ieteren is raising its interest in Belron’s equity capital by 2.12 percentage points to 94.85%. Belron operates under 10 major brands, including US-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 (EUR 39 million).
“The remaining 5.15% 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% interest in Belron by 2014.