Gleiss Lutz advises Derby Cycle on successful squeeze-out and delisting

Gleiss Lutz has advised Derby Cycle AG, Germany’s largest bicycle manufacturer in terms of sales, on its squeeze-out of minority shareholders and the company’s resulting delisting from the Prime Standard segment of the Frankfurt Stock Exchange.  

Upon entry of the squeeze-out in the commercial register the shares of Derby Cycle AG’s minority shareholders were transferred to majority shareholder Pon Holding Germany GmbH in exchange for cash consideration of EUR 31.56 per share. The shareholders’ meeting had previously approved the transfer on 23 November, making Pon the sole shareholder.  

In January 2011 Gleiss Lutz advised the consortium of banks headed by joint lead managers and joint bookrunners equinet Bank Aktiengesellschaft and BHF-BANK Aktiengesellschaft on Derby Cycle AG’s IPO, and subsequently advised Derby Cycle on Pon’s takeover of a majority stake in autumn 2011.  

The following team of Gleiss Lutz lawyers advised Derby Cycle on its squeeze-out and delisting: Dr. Stephan Aubel (lead, partner, corporate/M&A and capital markets, Frankfurt), Dr. Cornelius Götze (partner, corporate/M&A, Frankfurt), Peter Steffen Carl (partner, corporate/M&A, Munich), Dr. Thorsten Gayk (corporate/M&A, Hamburg), Melanie Barwich, Vanessa Maier and Alexander Gebhardt (all corporate/M&A, Frankfurt).