Europe
United States
03
Sep '09
Cobepa has sold its equity stake in Belron
On 3 September 2009, Cobepa exercised its put options on D'Ieteren related to its 16.35% equity stake in Belron (Carglass).
Cobepa became a shareholder of Belron in 1999 with as objective to jointly control this business with D'Ieteren and enable the latter to develop a third activity.
The transaction consideration amounts to EUR 275 million and represents a capital gain for Cobepa of EUR 210 million. The cashflow resulting from this operation will be reinvested in accordance with Cobepa's investment strategy.
Cobepa remains an important shareholder of D'Ieteren.