Accell Group has confirmed today that it will increase its minority stake in Derby Cycle AG to approximately 22%. Accell Group has acquired shares through the stock exchange, taking advantage of recent lower share price levels.
In addition, Accell Group has reached agreement with a third party to acquire a significant stake in Derby Cycle. These increases combined lead to the total stake of approximately 22%.
As stated earlier this year in April, Accell Group appreciates the strong development of Derby Cycle. The company ‘recognizes the underlying positive trends and successful strategy of the company. This was also confirmed in the recent publication of the Q3 figures in which Derby Cycle showed strong growth of both sales and net profit.’
The latest investment offers Accell Group the opportunity to further participate in the future growth of Derby Cycle. Currently there are no discussions with Derby Cycle on a strategic cooperation and/or public offer.
Accell Group financed the increase of its stake from an additional credit arrangement.
