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Porsche takes over luxury bicycle manufacturer Greyp

Friday, 11/19/2021 3:00 p.m. from

dpa-AFX

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STUTTGART (dpa-AFX) – Porsche takes over the majority of the Croatian bicycle manufacturer Greyp Bikes. With the takeover, the activities in the area of ​​e-bikes should be expanded, announced the Volkswagen subsidiary on Friday in Stuttgart. The amount of the purchase price was not disclosed. In 2018, Porsche acquired 10 percent of the shares in the luxury-class bicycle manufacturer. After the deal is concluded, the company will then hold just over 50 percent of the shares.

In addition to Porsche as the new majority owner, Mate Rimac and other Greyp founders will now remain involved in the company, according to the announcement. Porsche and Rimac have been linked for a number of years. Porsche has had a stake in Rimac since 2018, and the Stuttgart-based company currently holds a 24 percent stake in the Croatian electric sports car manufacturer./ols/DP/ngu

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