Derby Cycle should be delisted from the Frankfurt Stock Exchange, since Pon Holding Germany, a fully-owned subsidiary of Pon Holdings in the Netherlands, became the sole shareholder of the German bicycle group. Pon already owned more than 95 percent of Derby and a squeeze-out was agreed at a shareholders' meeting in November, allowing Pon to pay €31.56 per share for the remaining shares. After the resolution became effective on Dec. 28, Derby said it intended to apply for a delisting of its shares. Derby was only introduced on the stock market in February 2011, at a price of €12.50 per share. It quickly became a target for investment by the Accell Group of the Netherlands, and then Pon. This Dutch car trading group rapidly built up a large-scale bicycle business in the last two years by buying Derby along with Gazelle in the Netherlands and Cervélo in Canada, as well as acquiring rights for the Dutch Union brand. Derby sells bicycles under the Focus, Kalkhoff, Rixe and Univega brands.

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