Giant Group buys minority share in Stages Cycling in $20 million deal
January 27, 2023
Giant Group has made a $20 million investment in Stages Cycling, acquiring 32.5% of the company’s common stock according to a filing with the Taiwan stock exchange.
According to the announcement in Taiwan, on Jan. 20 Giant’s board approved the purchase of 32.5% of Stages Cycling Inc. common stock for $6.5 million and Stages Cycling’s convertible corporate bonds for $13.5 million. Giant made the investment through its subsidiary Gaiwin US I Investment Inc.
Giant said its strategy is to expand Giant Group’s presence within the indoor cycling market and to build Giant’s “cycling ecosystem.” BRAIN