Thursday, April 10, 2014

The Bike-sharing World - The Second Week of April 2014



The newspapers in Montréal are reporting that Bruno Rodi, a Canadian entrepreneur, will be the new owner of Public Bike Systems Company - Société de Vélo en Libre-Service. According to TVA Nouvelles, the sale of PBSC to Rodi Designs will be formalized on Friday, April 11, 2014. Rodi Designs' website proclaims it is the "sofa specialist for 35 years", which is an entirely different industry than bike-sharing. However, hopefully this will mean more comfortable seats for the bikes.

The bid for the bankrupt PBSC had to be a minimum of $4,000,000 CDN ($3,657,000 USD). We will see if that is a bargain or not.

Update April 24, 2014: An investment firm, REQX Ventures, the investment arm of Related Companies, a real estate developer, and Equinox, a fitness and wellbeing company, has put in a larger bid for PBSC than Rodi. The decision is up to the Bankruptcy Judge to see whose credit card the bIXI kiosk will accept!

Update II April 24, 2014:  After many twist and turns in court the Bankruptcy Judge awards PBSC/Société de Vélos en Libre Service to Rodi Designs. A recap of the day's events can be read in the Montreal Gazette.

Russell Meddin  

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