Broekhuis Holding B.V. reached an agreement to acquire Heron Auto B.V. from Stern Groep N.V..
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.