Financial Press: Accell Targets BH Bikes in Spain for Take-Over

AMSTERDAM, The Netherland – An interview that Reuters had with Accell Group CEO René Takens yesterday, is stirring up the financial press. In this interview Takens names BH Bikes as a potential take-over candidate.

Bicicletas de Alava SA from Vitoria in the Bask region in Spain is the biggest bike maker of the country. It is part of the BH Group that, among other products, also holds a strong position in the fitness market.

In the Reuters interview Takens says to be looking for companies to take-over in Italy and Spain. He expressed this ambition earlier at presentations of the financial reports of the holding company for numerous companies manufacturing bicycles and trading in bicycle products.

In the interview the Accell CEO had with Reuters he is somewhat more specific. Not only by naming BH Bikes as one of the take-over candidates but also by saying that Accell has up to 100 million euro to spend for such acquisitions. For that amount new shares will have to be issued; smaller companies to take-over can be financed by Accell or by banks with are, according to Takens, eager to loan the money to the holding.