Cervélo reassures doubters on possible company sale

Company plays down major restructuring

Bike manufacturer Cervélo has updated and elaborated on its recent statement that the company was considering a potential change of ownership.

The company announced on December 23 it had entered into a financing agreement with Dutch company PON holdings, and flagged that the agreement would allow "both parties to agree on a sale of Cervélo in exclusivity."

After a few days of uncertainty the company has now clarified the nature of its earlier statement, reassuring stakeholders that any sale would not affect the way the company would function.

"A potential sale of the company allows us to continue to grow Cervélo without changing any of the things that make it special," reads the updated statement on the company website.

"Cervélo will continue to be based in Toronto, with the same team of people, with the same desire to engineer the best bikes on the planet. It will stand by old products and create exciting new ones, starting with the new P5 which will be launched next month."

Cervélo has supplied bikes to the sports' top tier with several teams including Team CSC, the Cervélo Test Team and now Garmin-Cervélo all riding on the company's top end machines.

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