A consortium led by buyout firm KKR has made its offer to buy Accell Group unconditional, it said on Friday, in a deal that values the maker of Sparta, Batavus and Raleigh at 1.56 billion euros ($1.66 billion).
After receiving 77.8% of shares, the consortium said it would waive a condition of needing to reach an 80% threshold of shares tendered to its 58 euro per share offer for the deal to go through.
The deal is the latest sign of rising investor interest in the e-bike industry, after Dutch bike firm Van Moof raised $128 million from Hillhouse Capital last year to fund its U.S. expansion, and Cerberus Capital Management made an unsuccessful bid for Canada’s Dorel Industries.
Read more: Reuters
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