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‘Accell Group Wants to Take Over Derby Cycle

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Last week’s Accell Group announcement about the increase of their share holding in Derby Cycle AG to 22% is assumed by Derby Cycle CEO Matthias Seidler (photo) as a plan to take over the company. At last week’s Eurobike Show

‘Accell Group Wants to Take Over Derby Cycle

CLOPPENBURG, Germany – Last week’s Accell Group announcement about the increase of their share holding in Derby Cycle AG to 22% is assumed by Derby Cycle CEO Matthias Seidler (photo) as a plan to take over the company. At last week’s Eurobike Show the Derby Cycle top manager said to regard the Accell Group actions as hostile.

In a further reaction Seidler said: “We doubt whether Accell’s participating interest relates exclusively to a financial investment. On the contrary, we are assuming that the Accell Group is planning a takeover of the company which is not desired from our perspective.”

Seidler continues: “Although we have received no related declaration of intent, and there have also been no discussions with representatives of the Accell Group about this topic, it is known that it is explicitly no part of our strategy to seek a merger with a large competitor. From today’s perspective, we have no interest of any kind in any cooperation with the Accell Group, however it might be structured, and of whatever type it might be.”

“We floated on the stock market at the start of this year in order to continue independently with our strategy at a high growth rate. The results for the first nine months of 2010/11 that have recently been published reflect the success of this strategy – we are outstandingly positioned. For this reason, we will continue to pursue our successful strategy of independent growth also following the Accell Group’s recent announcement.”

 

 

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