Bike-sharing start-up Mobike close to management buyout in Europe – The Telegraph
What happened: Citing an email sent from Mobike to investors, The Telegraph reported that the company’s European arm is in the final stages of a management buyout from Meituan-Dianping, the bike-rental startup’s Chinese owner.
Regional General Manager of Mobike Europe Paul Zhu and other senior executives are leading the initiative, sources said.
While it has not yet been confirmed, the sale is expected to be worth $100 million.
Mobike Europe is also reportedly planning on branching out into e-bike and scooter rentals in the region.
Meituan is expected to keep a stake in the company after the sale.