D'Ieteren, Belron Canada's parent company, is exploring the potential to bring a partner into Belron Français
MONTRÉAL, May 2, 2017 /CNW Telbec/ - As part of the regular review of its strategic options, D'Ieteren, Belron Canada's parent company, that namely operates the Speedy Glass and Lebeau Vitres d'autos banners – has decided to look for a minority partner in Belron, the world leader in vehicle glass replacement and repair. D'Ieteren's aim is to remain the majority shareholder while strengthening its investment capacity. The choice of a partner for Belron will be based on several criteria, including a compatibility with Belron's company culture, an alignment with its long-term vision and the financial terms of the partnership.
A partial sale of Belron shares to a minority partner would allow D'Ieteren to broaden its activities and pursue its long-term strategy which aims to invest in other activities with high growth potential.
Belron's management is fully aligned with this potential transaction which is consistent with Belron's strategic vision. D'Ieteren will continue to provide full support to Belron's development, both in the vehicle glass repair and replacement market and in the ongoing search for new services to offer to customers. There is however no guarantee that this process will lead to a transaction and D'Ieteren considers itself under no obligation to proceed with such a transaction. Neither does it intend to comment on possible market rumours nor provide insight into the progress of the process.
D'Ieteren is advised by Goldman Sachs International and JP Morgan Limited.
About Belron Canada
Belron Canada is the Canadian division of Belron International, a company that offers unique know-how, strict safety standards, personalized service, cutting edge technologies and a complete training program that make them uncontested leaders in automotive glass repair and replacement. With a network of more than 350 service centres, 40 distribution/warehouse centres and over 1,600 employees in 10 provinces, Belron Canada guarantees its customers local service. Belron Canada stands out for its Canada-wide presence, including the Speedy Glass, Lebeau vitres d'auto, DURO, Apple Auto Glass and Broco Auto Glass banners. Belron Canada also owns Speedy Collision, a banner that regroups a network of collision repair centres. Learn more at www.belroncanada.com.
SOURCE Belron Canada Inc.
Source: D'Ieteren; Contact: Dominique Dubé, Belron Canada, [email protected], 514-593-2393
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