Broekhuis Holding B.V. reached an agreement to acquire Heron Auto B.V. from Stern Groep N.V. (ENXTAM:STRN) on December 9, 2019. Heron Auto reported net revenues of approximately €100 million in 2018. Visser, current Chief Executive Officer of Heron Auto will leave the company upon completion but will continue at Stern as a Director of Stern 5. The transaction is subject to approval from Dutch Authority for Consumers & Markets (ACM) and is expected to complete on January 2, 2020. The transaction will reduce the size of balance sheet of Stern Groep by approximately €60 million.