Bondholders of Mitteldeutsche Fahrradwerke (Mifa), the largest bike manufacturer in Germany, have agreed to delay payment of interest on their bonds, originally scheduled for Aug. 12, until the presentation of a new business plan at end of October. They have appointed a Munich-based consultant, One Square Advisory Services, to negotiate on their behalf the conditions for a proposed acquisition of a 47 percent stake in Mifa by India's largest bike manufacturer, Hero Cycles. The latter was willing to inject €15 million into the company, which reported a similar loss for 2013, but wanted 80 percent of the €25 million bond written off. The company says that other important financing partners would participate in the discussions.

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