Istanbul-based BinBin, a micro- and shared-mobility provider, announced on Wednesday, August 23, that it has submitted a non-binding offer to acquire bankrupt Amsterdam-based electric bicycle company VanMoof.
The announcement follows the purchase of Utrecht-based Go Sharing in February this year and the successful continuation of operations in more than ten cities in the Netherlands.
BinBin has made a no-obligation offer and is preparing to present its binding offer. Financial details have not been disclosed.
BinBin, a subsidiary of 1000 Yatirimlar Holding AS, aims to close the deal in the coming weeks.
BinBin: Providing affordable transit options
Founded in 2019 by Kadir Abdik and Hüseyin Ardan Küçük, BinBin is a micro-mobility technology company that provides affordable, useful transit options.
The company runs more than 25,000 shared scooters to more than 3 million users in several Eastern European nations.
The company deploys vehicles made with domestic software and engineering under its brand, developing alternate methods of transit that are both useful and sustainable
Micromobility’s rejection
Earlier this month, US-based Micromobility.com’s non-binding bid to acquire bankrupt VanMoof was rejected by its trustees.
The bid came after the Dutch company declared bankruptcy and the court of Amsterdam lifted a suspension of payment proceedings for VanMoof Global Holding BV, VanMoof BV, and VanMoof Global Support BV.
The court’s decision was driven by the Dutch entities’ financial constraints and inability to meet their liabilities.
VanMoof also filed for insolvency in the UK. The Dutch company confirmed through an email to its customers that the company is undergoing a Creditors’ Voluntary Liquidation in the UK.
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