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KKR-led consortium acquires nearly 100% of Accell Group shares

Published June 23, 2022

HEERENVEEN, Netherlands (BRAIN) — A consortium headed by investment firm KKR has acquired 96.9% of Accell Group shares during the post acceptance period that ended Thursday.

Accell Group said 5,671,703 additional shares — 21.1% of the total — have been obtained. The consortium said two weeks ago it planned to acquire 100% of the shares despite not reaching a threshold of 80% of shares committed to the buyout. On June 16, the consortium bought the committed shares at 58 euros ($61.04) per share, the same price it purchased the post acceptance period shares.

During the post acceptance period that began June 10, an additional 23,594 shares were acquired. The settlement of the tendered shares during the post acceptance period will take place on June 30. The consortium will initiate legal buy-out proceedings to obtain 100% of the shares.

Accell Group's brands include Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, and Carqon. Its P&A brand is XLC. Accell Group employs about 3,100 people across 15 countries.

KKR has investments in dozens of companies around the world in several sectors. It invested in Zwift, the online cycling game, in 2020, and was among the groups that looked at buying Canyon Bicycles in 2020. KKR also is a previous investor in Lyft.

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