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Gas Gas Management Buys Majority Stake
Salt, Girona 27th February 2013
We are pleased to announce the agreement to buy Vector Capital’s shares, venture capital society of Banco Mare Nostrum (BMN), which controls over 73,09% of Gas Gas Motos S.A. by the general management and an international group of investors. The agreement will be formalized in the next weeks.
Within the plan of development and consolidation of the brand started in 2008 and updated in the year 2012, arose the need to incorporate new partners that provide both knowledge of the sector as well as financial resources.
Based on the agreement, the new investors and the general management will buy BMN shares and will invest 9 million euros during the next 2 years to undertake the 2013-2015 strategic plan, which will focus on development of new range of products, and to support the growth in new markets.
Another objective fixed by the new shareholders, is to enhance the after-sales service, the brand image and the customer relationship management to consolidate the position of Gas Gas within the off-road sector.
As part of the company’s strategy is not dismissed future acquisitions in order to help the growth of Gas Gas Motos, S.A. in the next years.