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D'Ieteren Group M&A Activity 2020
3937_iss_2020-02-08_d7ed575d-425f-49e2-b470-eac471b2fd87.pdf
M&A Activity
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INSIDE INFORMATION
Saturday 8 February 2020 – 11:00 am CET
D'Ieteren acquires additional preference shares in Belron from CD&R
D'Ieteren signed an agreement with Clayton, Dubilier & Rice ("CD&R") regarding the acquisition by D'Ieteren of non-voting preference shares held by CD&R in Belron for a total value of EUR 150 million, at book value.
This transaction strengthens D'Ieteren's ownership in Belron in the context of its strong operating performance, and underlines D'Ieteren's long-term partnership and alignment in strategic vision with Belron.
D'Ieteren's ownership in Belron may vary, depending on factors such as future dividend recapitalisations or the Management Reward Plan. The current transaction should allow D'Ieteren to maintain over time at least a 50% equity ownership in Belron.
End of press release
PRESS RELEASE: ACQUISITION OF ADDITIONAL PREFERENCE SHARES IN BELRON
INSIDE INFORMATION
Saturday 8 February 2020 – 11:00 am CET
GROUP PROFILE
In existence since 1805, and across family generations, D'Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The Group has currently the following activities:
- D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 21% and 1.2 million vehicles on the road. Its business model is evolving towards providing citizens with responsible and innovative mobility. Sales and adjusted operating result reached respectively EUR 3.4 billion and EUR 113.0 million in 2018.
- Belron (54.85% of the voting rights) has a clear purpose: "making a difference by solving people's problems with real care". It is the worldwide leader in vehicle glass repair and replacement and operates in 35 countries, through wholly owned businesses and franchises, with market leading brands – including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers. It has also expanded its services into the automotive damage and home damage repair and replacement markets. Sales and adjusted operating result reached respectively EUR 3.8 billion and EUR 225.7 million in FY 2018.
- Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across more than 115 countries. Sales and operating result reached respectively EUR 174.1 million and EUR 28.6 million in FY 2018.
- D'Ieteren Immo (100%) groups together the Belgian real estate interests of D'Ieteren Group. It owns and manages approximately 30 properties which generated EUR 18.7 million net rental income in FY 2018. It also pursues investment projects and carries out studies into possible site renovations.
| Last five press releases (with the exception of press releases related to the repurchase or sale of own shares) |
Next events | ||
|---|---|---|---|
| 26 October 2019 | Belron has successfully allocated its new term loans of EUR 850 million equivalent |
5 March 2020 | 2019 Full-year Results |
| 18 October 2019 | Belron launches syndication of EUR 850 million equivalent of additional debt |
14 May 2020 | Investor Day |
| 15 October 2019 | Upward revision of D'Ieteren's FY 2019 guidance |
28 May 2020 | General Assembly |
| 28 August 2019 | D'Ieteren launches a EUR 150 million share buyback programme |
27 August 2020 | 2020 Half-Year Results |
| 28 August 2019 | 2019 Half-Year Results |
FINANCIAL CALENDAR
CONTACTS
Francis Deprez, Chief Executive Officer Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Investor Relations - Tel: + 32 (0)2 536.54.39 E-mail: [email protected] – Website: www.dieteren.com
Rue du Mail 50 - 1050 Brussels (Belgium) Ɩ tel.: +32 2 536 54 39 Ɩ fax: +32 2 536 91 39 Page 2/2 VAT BE 0403.448.140 – Brussels RPM Ɩ www.dieteren.com/en