23 January 2008
23 January 2008
SPORTS DIRECT INTERNATIONAL PLC
ACQUISITON OF STAKE IN AMER SPORTS CORPORATION
Sports Direct International plc (“the Company”) announces the acquisition of a 4.96% stake in Amer Sports Corporation, the multi-branded manufacturer of sports equipment and technical apparel and footwear, listed on the Helsinki Stock Exchange.
The aggregate consideration paid for the stake was €48.2m (£36.0m) (approximately €13.5 per share) and was financed by the Company by a drawdown under existing facilities. Previously the Company sold an earlier investment in Amer Sports Corporation on 7th November 2007 for approximately €19 per share.
The Company continues to believe that Amer fits its criteria for strategic investments. The Company makes and retains strategic investments where, and for so long as, the Board believes that the holding of such investments provide the Company with the opportunity to gain strategic or commercial advantage and the investments are able to be made at prices considered to be reasonable. The Board’s objective is to create value for the Company’s shareholders via such strategic investment.
Amer Sports major brands are
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