Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice (“CD&R”) in the sale of a minority stake in Belron, a global leader in the vehicle glass replacement and repair (“VGRR”) market.

The transaction will see Hellman & Friedman, funds and accounts managed by BlackRock Private Equity Partners, and GIC acquire a combined stake of up to 13% in Belron, valuing Belron at an Enterprise Value of €21bn, resulting in an equity value of €17.2bn.

The transaction will see CD&R retain a fully diluted shareholding (including all management shares) of approximately 24% in Belron. D’Ieteren Group will keep its current holding of 50.01% of the company’s fully diluted share capital.

For full details, see the official press release here.

The Debevoise team advising CD&R is led by partner E. Raman Bet-Mansour, and includes partner David Innes, and associates Dominic Blaxill and Jake Grandison. Tax advice is provided by partner Matthew Saronson.