Clearwater advises BOVAG on its increased participation in Bovemij
Clearwater has advised trade association BOVAG, on the increase of its ownership stake in Bovemij, a service provider and insurer of the automotive sector.
The successful purchase of €20.2m in certificates, which were subsequently withdrawn, resulted in BOVAG increasing its shareholding stake to 88%, highlighting its long-term commitment as majority shareholder.
BOVAG is a trade organisation of over 8,000 entrepreneurs involved in the automotive sector. Members are companies who specialise in passenger cars, classic cars, company vehicles, two-wheeled vehicles, caravans, trailers, engine overhaul, car rental, car parts, car wash services, car polishing, traffic education, car repairs, and petrol stations. In addition, BOVAG serves as a quality label for customers of the affiliated companies.
