Dorel completes bicycle operation sale to Pon Holdings for US$810m

Dorel Industries has completed the previously-announced sale of Dorel Sports, its bicycle segment, to Pon Holdings, the Dutch mobility group, for US$810 million.

The transaction consisted of the sale by Dorel of 100% of the shares of its indirect wholly-owned subsidiary companies comprising Dorel Sports as well as certain related assets. Dorel received net proceeds from the sale of approximately US$735 million, which it will use for payment of a special dividend of US$12.00 per share and to reduce indebtedness. Endurance.biz

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