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Netherlands: Bicycle makers talking $890mn merger

 |  April 11, 2017

Accell is in talks with Dutch rival Pon Holdings to create one of the world’s largest bicycle makers, with a dominant position in the fast-growing electric bike market.

Shares in Accell rose almost 20 per cent after the Amsterdam-listed company confirmed it had received a $896m takeover bid from Pon, a family-owned Dutch group with interests across the transport sector.

Pon said a combination with Accell will “result in the world’s leading global bicycle company, with headquarters in the Netherlands and with sufficient scale to be the long-term winner in the industry”.

Accell is already Europe’s largest bicycle company by turnover, selling about 1.5m bikes each year. Pon expects to sell 800,000 bicycles in 2017, and their combined sales would be worth about €1.7bn annually.

Full Content: Financial Times

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