Belgian car distributor D“Ieteren and holding group Cobepa South African authorities had approved their 100% acquisition of toughened glass manufacturer PGSI.
The companies said in a statement that …
Belgian car distributor D“Ieteren and holding group Cobepa South African authorities had approved their 100% acquisition of toughened glass manufacturer PGSI. The companies said in a statement that following the South African High Court“s approval, the deal which values PGSI at around Euros 340 million would be finalized soon. PGSI will no longer be listed on the Johannesburg stock market and will become a wholly-owned subsidiary of Dibelco International, itself a subsidiary of Dicobel SA, owned by the two Belgian firms. D“Ieteren has a 70% stake in Dicobel while Cobepa holds 30%. The acquisition brings with it a 78% stake in Belron, which D“Ieteren says is the world leader in automotive glass replacement and repair, operating under the brands Carglass and Autoglass. South African Breweries had held a 68.3% stake in PGSI.