Hero assessing takeover of troubled European manufacturer

Following the recent opening of a UK research and development centre in Manchester India’s Hero Cycles is reportedly in talks with troubled European manufacturer MIFA.

The Indian cycling giant has brazenly declared that it expects to chalk up a string of acquisitions as part of an ambition to hold a 5% share of the global cycling market. It is understood that Hero has previously assessed a purchase of MIFA, which at the present time is on course for solvency by March 1st.

Bike Europe now reports that Hero’s representatives are in Germany looking to hatch a rescue bid for the manufacturer.