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SOL Global Sued Over Busted $100 Million Bike-Share Startup Deal

Aug. 12, 2022, 6:05 PM

An SOL Global Investments Corp. affiliate is facing litigation in Delaware seeking to compel closing of its $100 million deal for Reby Inc., a Barcelona-based “micromobility” startup that runs an app-based platform for urban scooter and bicycle rentals.

The lawsuit in Delaware’s Chancery Court, made public Thursday, targets House of Lithium Ltd., a fund SOL launched in November to hold the Canadian private equity firm’s investments in electric vehicle makers and other green or clean technologies.

The partly redacted suit accuses House of Lithium of drumming up a series of frivolous pretexts for walking away from the deal, such as ...