
07 June 2007
Sports Direct International plc
Sports Direct International plc is pleased to announce the acquisition of a 4.9% stake in Amer Sports Corp., a multi-branded manufacturer and marketer of sports equipment and technical apparel and footwear, listed on the Helsinki Stock Exchange. Amer Sport''s major brands include Wilson, Salomon, Precor, Atomic and Suunto, leading brands in their respective categories.
Amer Sports provides equipment, technical apparel and footwear for a wide variety of sporting activities including tennis, golf, team sports, skiing, cycling, and running, with a particular focus on outdoor athletic activities.
This strategic investment by the Company is consistent with the Company''s stated corporate objectives at the time of its IPO, which included considering the expansion of its outdoor leisure offering as well as pursuing further strategic investment opportunities in the UK and overseas.
Sports Direct International will continue to make and retain 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 a strategic or commercial advantage and the investments are able to be made at prices considered to be reasonable. The objective of the Board is to create value for the Company''s shareholders via such strategic investments.
The aggregate consideration paid for the stake was €58.4 million (£39.2 million) and was financed by the Company via a drawdown under an existing credit facility.
For further enquiries, please contact:
Sports Direct International
Dave Forsey, Chief Executive 0870 333 9400
Bob Mellors, Group Financial Director
Financial Dynamics
Jonathon Brill / Ben Foster / Andrew Dowler 020 7831 3113
Back to all news
