The bids are in for Gas Gas
By Team TMX on 31st Oct 15
A positive new future for Gas Gas has taken a step forward as according to Catalan media three solid bids for the company have been accepted by the Commercial Court of Gironal who will then decide which one will be allowed to take over the iconic brand.
All three bidders stated that they intended to continue the business in Girona and build Gas Gas as a brand
The three bids are from Cataln electric bicycle/ motorcycle manufacturer Torrot (9.6m Euro) from Investment Fund WRI (7.2m Euro) and from Sherco (2.6m Euro).
Each company had to state exactly what their bid was to encompass (e.g. pay off some of the massive 44 million Euro debt) so the winner will not necessarily be the highest bidder. Sherco has stated that it would invest a massive 11.8 million Euros to ensure its future.
The Commercial Court will now evaluate all bids, meanwhile the three bidders are allowed to modify or increase their bids as it is the court's function to obtain the best possible bid for all parties.
