MIFA acquires significant assets of premium manufacturer Steppenwolf

(PresseBox) ( Sangerhausen, )
As of 21 August, 2012, MIFA Mitteldeutsche Fahrradwerke AG (WKN A0B95Y, ISIN DE000A0B95Y8) will acquire the significant assets of Steppenwolf Bikes GmbH and the brand rights of Steppenwolf GmbH, according to a purchase agreement that has been signed today. Since 1995, the Steppenwolf brand has stood for high-quality sports bikes in the upper price segment. Its bikes are produced exclusively in Germany, and are offered through independent bicycle dealers. Munich-based bicycle manufacturer Steppenwolf filed for insolvency on 26 July, 2012, with insolvency proceedings having commenced on 21 August, 2012. Since that date, Steppenwolf has been under the administration of Oliver Schartl, Munich.

MIFA will acquire all of the company's significant assets by way of an asset deal through a newly-founded subsidiary, Steppenwolf Bavaria GmbH. The acquired assets include, in particular, the brand rights and customer relationships of Steppenwolf GmbH, and its sales, marketing and field organisation divisions (service).

The parties have agreed to confidentiality concerning the purchase price of the transaction. MIFA will finance the transaction from its own financial resources, which derive from the capital increase that it executed successfully in July 2012. From MIFA's perspective, the acquisition of Steppenwolf represents an important step in its continued pursuit of its growth strategy, which was announced as part of the capital increase. Above all, the company regards the acquisition as an appropriate addition to its portfolio, which was expanded to include a well established e-bike brand as recently as March 2012 with the takeover of Berlin-based GRACE GmbH & Co. KG.

Issuer: MIFA Mitteldeutsche Fahrradwerke AG
Kyselhäuser Strasse 23
06526 Sangerhausen
ISIN: DE000A0B95Y8
WKN (German Securities Identification Number): A0B95Y
Stock exchange: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg and Munich
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