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Lone Star Buys Biria

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OBERLAUSITZ, Germany (Nov 10) – Germany’s second largest bike producer Biria, has been bought by US investor Lone Star. An agreement has already been signed, as Gerhard Urbannek, Biria’s CEO announced yesterday. No details were named however. The reason for the sale is the fact that owner Mehdi Biria (73) wants to retire from the […]

OBERLAUSITZ, Germany (Nov 10) – Germany’s second largest bike producer Biria, has been bought by US investor Lone Star. An agreement has already been signed, as Gerhard Urbannek, Biria’s CEO announced yesterday.
No details were named however. The reason for the sale is the fact that owner Mehdi Biria (73) wants to retire from the business. In 1991 he took over the Sachsen Zweirad GmbH in Neukirch, Germany to combine it with his Biria AG. For 2004, turnover in Neukirch was € 75 million, over 500.000 bikes were built. The company has 235 employees in Neukirch, and another 200 in their Nordhausen plant.
Lone Star Funds (Lone Star) are closed-end, private-equity limited partnerships that include corporate and public pension funds, university endowments, foundations, bank holding companies, family trusts and insurance companies. Since 1995, the principals of Lone Star have organized private equity funds totalling more than US$ 8.3 billion to invest globally in secured and corporate unsecured debt instruments, real estate related assets and select corporate opportunities. Lone Star has affiliate offices in London, Tokyo, Seoul, Taipei, Beijing, Dallas, Dublin, Brussels, Luxembourg, Frankfurt and Berlin. Its general partner is a Bermuda-based entity headquartered in Hamilton. Further details about what Lone Star paid for Biria and their plans with the company, are not yet available. (MH)

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