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 rework 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 just lately 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 undertaking fund value 55 billion received ($47.3 million) to purchase Daelim Bike and AJ Bike, of which 30 billion received was devoted to purchasing present shares and 20 billion received in issuing new shares.
Institutional traders akin to mutual support associations and capital corporations assumed 40 billion received in senior fairness and AJ Group in 15 billion received subordinated tranche. AJ Group was given the precise of first refusal for Daelim Bike and AJ Bike.
Sources famous that the consortium determined to accumulate 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 underneath AJ M, the holding entity of AJ Group’s mobility enterprise.
An unnamed business official stated that it will be the very best state of affairs 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 autos, underneath 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 automobile rental market.
AJ Group-led consortium aspires to groom the 2 corporations as Korea’s Gogoro, world’s main electrical two-wheeled automobile sharing platform dubbed as scooter business’s Tesla. The Taiwanese firm launched an electrical scooter by which drivers are capable of examine remaining battery by way of smartphones.
AJ Group plans to develop buyer base akin to franchise supply service to safe progress 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]