According to an article in today's NY Times
The arrangement would wrest control from Alta, the company, based in Portland, Ore., that has partnered with the city to date, and give it to REQX, a venture formed by some principals of the real estate firm Related and the fitness chain Equinox. REQX would also assume a majority stake in Alta’s other systems, in cities like Boston, Washington and Melbourne, Australia. The agreement could be announced as early as this week, though officials cautioned that a deal had not been completed.
I'm not sure what thtat means. Does REQX take over operations from Alta?
Update: Here's more.
Not sure this is news -- was reported about two weeks ago.
REQX/Equinox will buy control of Alta. Good riddance.
They MIGHT be in a good position to buy out the rest of the BIXI assets as a flip. In not, they are well financed enough to bring in their own (compatible?) system to NYC.
In other news, they paid 110M for remainder of SCLA.
Unclear if DC members would be looking at price hikes. I suspect there will be tremendous pressure but I don't think Alta controls that.
Posted by: charlie | July 28, 2014 at 12:47 PM
BIXI is largely irrelevant for bikeshare and CaBi. Why would they want to buy the BIXI assets?
Posted by: Michael H. | July 29, 2014 at 12:34 AM
*largely irrelevant going forward.
Posted by: Michael H. | July 29, 2014 at 12:35 AM