German Bicycles manufacturer Mifa sold to Von Nathusius entrepreneurs family
Following approval by the creditors’ committee, the insolvency administrator of MIFA Mitteldeutsche Fahrradwerke AG (ISIN share: DE000A0B95Y8 / WKN share: A0B95Y; “MIFA”), Prof. Lucas F. Flöther, has reached agreement with the Nathusius industrialist family, the sole shareholder of IFA Rotorion-Holding GmbH, to sell all of MIFA’s assets as part of an asset deal.
Both parties have signed the corresponding purchase agreement last night. An application for anti-trust approval will be submitted to the relevant anti-trust authority. Once such approval has been obtained, the transfer of operations is planned for 1 December 2014 retrospectively, whereby MIFA’s existing employment contracts will transfer to the purchaser.
The asset deal that has been contractually agreed between the parties has no direct effects on the stock market listing of MIFA in the Prime Standard of the Frankfurt Stock Exchange.
MIFA is pursuing a one-site strategy: Production, sales and management are all carried out at the site in Sangerhausen. By concentrating on a single production facility, MIFA can keep its fixed costs low. Ongoing optimization of our production processes is our goal in order to be able to implement increases in production volumes in the future as well. In this way, we can maintain an attractive price/performance ratio.
Source Mifa ©
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