Brembo sells 65pc stake in Sabelt company

Brembo, champion manufacturers of brakes for vehicles, has sold its 65pc equity stake in Sabelt company to the current minority shareholders. Brembo has reached an agreement with the minority shareholders for the sale of its controlling interest (65pc) in Sabelt S.p.A., a manufacturer of seat belts and seats for top-range and racing cars.

According to a press release, given Sabelt’s potential for further growth and the fact that its business differs from Brembo’s core business, it was deemed appropriate to sell the majority stake to the founding shareholders, the Marsiaj family, who can guarantee an even stronger presence on the specific market of sports seats for cars. The agreement will be effective retroactively as of June 1, 2015 and will be finalised within the current month. The transaction value will have a negligible impact on Brembo’s Consolidated Financials. Sabelt’s revenues at December 31, 2014 amounted to €32.2 million.