D’Ieteren, the automotive company and parent of Belron, and Clayton, Dubilier & Rice (CD&R), the global private investment firm, announced Sunday that they have entered into exclusive discussions under which CD&R-managed funds would acquire a 40 percent ownership interest in the Belron group, the global vehicle glass repair and replacement company and parent of Safelite Auto Glass.
Under the proposed agreement, D’Ieteren and management would retain the remaining 60 percent ownership interest in the company. The proposed transaction would value Belron at €3 billion ($3.52 billion) (enterprise value) which, after deduction of debt-like items and a dividend payment of €453
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