CLOPPENBURG, Germany, September 1, 2011 /PRNewswire/ --
The Dutch Accell Group announced on August 31, 2011, that it will increase its interest in Derby Cycle AG to approximately 22% through corresponding agreements. The Management Board of Derby Cycle AG has issued the following statement and opinion on this matter:
"As the Management Board of Derby Cycle AG, we doubt whether this participating interest relates exclusively to a financial investment. On the contrary, we as the Management Board are assuming that the Accell Group is planning a takeover of the company that is not desired from our perspective. Although we have received no related declaration of intent to date, and there have also been no discussions with representatives of the Accell Group about this topic, it is known that it is explicitly not 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."
SOURCE Derby Cycle AG