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Colnago sold to UAE group

Published May 4, 2020

MILAN (BRAIN) — Chimera Investments LLC, an investment fund based in Abu Dhabi, United Arab Emirates, has acquired a majority of the shares in Colnago, the Italian road bike brand.

Ernesto Colnago founded the company in 1954. His bikes have been used to win world championships, Olympic medals, the Tour de France, the Giro d'Italia, Paris-Roubaix, and more.

Ernesto Colnago said, "Chimera Investments will give Colnago the ability to grow and increase its presence in all markets, whilst maintaining and improving the quality of Colnago products. We have a unique opportunity with the support of Chimera to ensure that we continue to build the world's best bikes well into the future."

Chimera Investments said, "From all the fans of Colnago, we would like to thank the master of the design and invention of great bikes Ernesto Colnago, and we would like to follow his path and move forward in his legacy bringing Colnago to a bright future as no one else would. Mister Colnago will always be the Godfather and the guiding force of the new developments."

Topics associated with this article: Mergers & Acquisitions

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