D'Ieteren

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Listed on the Euronext Brussels stock exchange, D’Ieteren is a leading automotive service company with two areas of expertise: vehicle distribution in Belgium and vehicle glass repair and replacement around the globe.

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19.02.2014

Cobepa sells its stake in D'Ieteren

After 20 years of strong and successful partnership, Cobepa has sold its remaining stake in D'Ieteren

Founded in 1805, D'Ieteren is the #1 car distributor in Belgium and the worldwide leader in the repair and replacement of vehicle glass.

Automobile distribution

With a market share of more than 20%, D’Ieteren is the exclusive importer for Belgium of the following brands: Volkswagen, Audi, Seat, Skoda, Bentley, Lamborghini, Bugatti and Porsche. Its competitive advantage is based on a tight network of concession agents, a wide range of models, higher than average customer loyalty and a good knowledge of its home market. The company is also a top player in motorbikes and motorcycles (Yamaha), diesel utility vehicles and low tonnage commercial vehicles. D'Ieteren Auto also holds a minority stake in Volkswagen D'Ieteren Finance, a provider of car financing services. 

Vehicle glass repair and replacement

At the end of 1999, D'leteren purchased Belron in a joint venture with Cobepa. With around 2,000 branches, Belron has developed into the global leader in vehicle glass repair and replacement. Belron trades under 15 different brands including Carglass, Autoglass and Safelite, serving customers in 33 countries. D'Ieteren increased its stake in Belron to 93% in 2009 with the acquisition of the stake previously held by Cobepa.

D’Ieteren also used to be invested in car rental company Avis Europe. It sold its 60% stake in 2011 to Avis Inc.

Exit in 2014

Listed on Euronext Brussels with a 40% free float, the Group is still controlled by the founding families. Cobepa held an 8% stake in D'Ieteren, which was reduced by half in 2010. By February 2014, after 20 years of strong and successful partnership, Cobepa had sold all of its remaining shares on the stock market.

 

Cobepa S.A.

Cobepa S.A.
Rue de la Chancellerie 2, box 1
1000 Brussels
Belgium
Tel: 
+ 32 2 213 32 10
Fax: 
+ 32 2 513 17 02

Cobepa North America Inc.

Cobepa North America Inc.
Tower 49
12 East 49th Street
New York, NY 10017
United States
Tel: 
+1 (646) 679 5177