Confirmed: Alta Bicycle Share Sold

Big news for the business of bikeshare: Alta Bicycle Share will be sold and the Citi Bike fleet will be doubled, according to report.

1 minute read

October 28, 2014, 6:00 AM PDT

By James Brasuell @CasualBrasuell

Joe Mazzola / flickr

"REQX Ventures, a company run by people affiliated with Related Companies—developer of the Time Warner Center and Hudson Yards—and its subsidiary Equinox, will own all of Alta Bicycle Share," reports Dana Rubinstein. The sale also means the CitiBike fleet will double in size, from 6,000 to 12,000.

"REQX will now be in control of bikesharing systems in, among other places, Boston, Chattanooga, Washington, D.C., Toronto, and Melbourne, Australia." The potential deal was first reported in July, and Rubinstein's sources report that the final deal is similar to the terms described in the original report.

FULL STORY: Sources: CitiBike deal closes

Friday, October 24, 2014 in Capital New York

Transportation New York Alta Bicycle Share Bikeshare New York City Related Companies View More

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