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Sensors and chips company Melexis no longer has a majority shareholder. The founding De Winter-Chombar and Duchâtelet families are splitting up their joint vehicle Xtrion. That held just over 50 percent of the shares.

In the news: The three founders of Melexis, the couple Rudi De Winter- Françoise Chombar and serial entrepreneur Roland Duchâtelet, are readying the company for their children.

Specifically: Their joint holding company Xtrion, accounting for 20.1 million shares is being completely dismantled.

  • Xtrion sells 10.1 million shares to Elex, the Duchâtelet family's investment vehicle.
  • The remaining 10 million shares are being sold to Sensinnovat, the vehicle of the De Winter-Chombar family.
  • The transactions proceeded at a price of 74.12 euros per share, or the average of the 30 days before Nov. 14.

Getting ready for next generation

The implications: Melexis thus strictly legally no longer has a majority shareholder.

  • "As a result of this restructuring, joint control of the company has changed to a lack of control and lack of joint action," Melexis said in a press release.
  • That does not mean, however, that both clans will immediately go their separate ways. "The De Winter-Chombar and Duchâtelet families confirmed that this does not mean they would currently have differences of opinion on Melexis' strategy and priorities. Their commitment to the company remains unchanged," Melexis appeased.
  • Adding, "Moreover, they indicated that they have no plans to sell or reduce their shares. Roland Duchâtelet and Françoise Chombar also confirmed their willingness to stay on as directors of Melexis." Chombar was the CEO until a few years ago.

But: That may change in the future, especially if the children come to the helm of the family investment vehicles. "This will allow the families, looking to the next generation, to pursue individual and independent investment strategies through their own holding companies Elex and Sensinnovat."

© The Content Exchange, source News