D'Ieteren ups stake in glass replacement business

BRUSSELS, Sept 3 (Reuters) - Belgium's largest car distributor D'Ieteren (IETB.BR) said on Thursday it had raised its stake in vehicle glass replacement business Belron to 93.73 percent for around 275 million euros ($392.8 million).

The rise from 77.38 percent came after Belgian investment company Cobepa, which has a stake in D'Ieteren, exercised its put option on the 16.35 percent stake it owned.

"To be consolidated from September 1 on, this holding will have a slightly positive net impact on 2009 results," D'Ieteren said in a statement.

D'Ieteren, which also has a majority stake in car rental company Avis Europe (AVE.L), reported higher than expected first-half results last week and raised its 2009 forecast, partly on the back of a strong Belron performance. (Reporting by Philip Blenkinsop; Editing by David Cowell)