Clearwater International advises Bovemij on the increased participation of BOVAG in Bovemij

Clearwater International advises BOVAG on its increased participation in Bovemij

Clearwater International 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The successful purchase of €20.2m in certificates, which were subsequently withdrawn, resulted in BOVAG increasing its shareholding stake to 88%, highlighting its long-term commitment as majority shareholder.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.