D’ieteren: in negotiations with CD&E Belron

© Reuters. D’ieteren: in negotiations with CD&E Belron

The action Of the d’ieteren accounts for 5.5% in Brussels after the entrance of the belgian group of automotive distribution in exclusive negotiations with Clayton, Dubilier & Rice (CD&R) for a partnership project in Belron.

At the end of these discussions, funds managed by CD&R will acquire a 40% stake in Belron, the global market leader in the repair and replacement of automotive glass, while D’ieteren and the management will keep a stake of 60%.

The proposed agreement would promote Belron to three billion euros (enterprise value) which, after deduction of the adjusted debt (including the payment of a dividend of $ 453 million), would result in an equity value of approximately 1,550 million.

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