The German Federal Cartel Office has approved the proposed acquisition of Dutch bicycle manufacturer Accell by Singapore-based DuTech Holding, clearing a significant regulatory hurdle for the transaction.
The decision, announced on Wednesday, allows the Asian investment group to proceed with its plan to take control of the European bike maker, which owns brands including Batavus and Gazelle.
The clearance from the Bundeskartellamt is a critical step in the deal's timeline, as Germany is a major market for Accell's products.
Regulatory approval in the Netherlands and other jurisdictions may still be required before the transaction can be finalized.
The move signals growing interest from Asian capital in European consumer brands, particularly in the mobility and cycling sectors.
Accell has faced increasing competition in the European bike market, where demand has softened following the pandemic-era boom.