Bidding Started for Mavic Sale
Following on the September 1 announced divestiture of asset Mavic by its owner Amer Sports; it became apparent during the past few weeks that the bidding process is opened for the French P&A maker. From various sources Bike Europe learned that
HELSINKI, Finland – Following on the September 1 announced ‘divestiture of asset Mavic’ by its owner Amer Sports; it became apparent during the past few weeks that the bidding process is opened for the French P&A maker.
From various sources Bike Europe learned that at least one company from Europe has informed the Finnish holding company Amer Sports about its interest in taking over Mavic. Next to this European based company which is already on an international scale operating in the bike business; it is said that also a Taiwan based company is showing an interest in Mavic.
Rumours are also going around on what Mavic should cost. It is said that a complete take-over of Mavic including all its assets would run up to about one hundred million euro. It is also said that this price limits the number of potential buyers of Mavic as there are not much bike companies able to raise that kind of capital.
"Considering strategic alternatives"
In its September 1 company statement Amer Sports said: “We are considering strategic alternatives to focus the business portfolio more towards categories where we believe the company has the best long-term opportunities and where the best group-wide synergies can be achieved. Consistent with this strategy, Amer Sports is currently exploring alternatives in respect of its cycling business Mavic. Among other alternatives, this strategic review may result in a divestiture of this asset.”
In Q2 2009 report released on August 6, Amer Sports stated that Mavic saw its sales drop by 12.8% during the first half of 2009 to € 51.8 million against € 59.4 million one year earlier.
- For related items on Mavic, click here