Market: Land in sight. This is probably how the managers of the Saxony-Anhalt bicycle manufacturer Mifa interpret the economic situation of their company. According to their own statements, an investor could be found. The Indian company Hero Cycles wants to invest a total of 15 million euros in the company. In addition, an investment agreement is said to have been concluded with the Hero Cycles subsidiary OPM Global, which guarantees it up to 47 percent of the shares in Mifa.
However, as a condition of the investments, Hero Cycles probably demanded cutbacks on the part of the banks and bondholders of Mifa. The company has been struggling with a balance sheet deficit of 28 million euros since last year. These are said to come from improperly accounted inventories.
Hero Cycles is currently the world's top-selling bicycle manufacturer. The partnership is primarily intended to strengthen the market position in the e-bike sector.