AJ Group consortium completes acquisition of Daelim Bike, AJ Bike
A South Korean consortium led by AJ Group has accomplished acquisition of the nation’s high bike producer Daelim Bike Co., a transfer that can assist AJ speed up its plan to remodel from conventional two-wheel enterprise into an electrical scooter manufacturing and sharing enterprise.
In line with a number of sources from the funding banking business final week, a consortium of AJ Group, A2 Companions, and Rhinos Asset Administration has not too long ago accomplished its takeover of Daelim Bike, about two months after it signed a inventory buy settlement on July 9 to purchase full stake within the motorbike maker owed by Daelim Industrial and Affirma Capital.
The consortium created a challenge fund price 55 billion gained ($47.3 million) to purchase Daelim Bike and AJ Bike, of which 30 billion gained was devoted to purchasing current shares and 20 billion gained in issuing new shares.
Institutional buyers equivalent to mutual help associations and capital companies assumed 40 billion gained in senior fairness and AJ Group in 15 billion gained subordinated tranche. AJ Group was given the precise of first refusal for Daelim Bike and AJ Bike.
Sources famous that the consortium determined to amass to Daelim Bike and AJ Bike in bundle to spice up enterprise synergy. AJ Bike is chargeable for motorbike rental enterprise inside AJ Group. It’s below AJ M, the holding entity of AJ Group’s mobility enterprise.
An unnamed business official stated that it could be the most effective situation for AJ Group that took half as subordinate investor to purchase each Daelim Bike and AJ Bike sooner or later for mid- to long-term synergy creation.
With Daelim Bike, the nation’s high motorbike producer that produces environmentally-friendly two-wheeled automobiles, below its umbrella, AJ’s plan to leap into the electrical mobility market is anticipated to choose up pace. AJ Bike is already the highest participant within the nation’s two-wheel car rental market.
AJ Group-led consortium aspires to groom the 2 corporations as Korea’s Gogoro, world’s main electrical two-wheeled car sharing platform dubbed as scooter business’s Tesla. The Taiwanese firm launched an electrical scooter wherein drivers are capable of verify remaining battery through smartphones.
AJ Group plans to broaden buyer base equivalent to franchise supply service to safe development engine and to nurture the 2 corporations as a mobility producer and repair supplier like Gogoro.
By Kang Woo-seok and Lee Eun-joo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]