Moleskine Owner D’Ieteren’s Holding Family Rejigs Stake in Group

Shares of Belgian holding company D’Ieteren Groupslumped after a member of its controlling family began selling its stake and the company said it would pay almost €4 billion ($4.4 billion) in a special dividend to shareholders using mostly borrowed money.

The stock sank as much as 9.7%, the most in two and a half years, and was trading 7.1% lower at €210.00 at 4:15 p.m. in Brussels.

D’Ieteren, which began as a carriage maker in the Belgian capital in 1805, now distributes Volkswagen cars in Belgium, owns the Moleskine notebook business and runs Belron, a company that repairs ...