7th Jun 2007 16:43
Sports Direct International Plc07 June 2007 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 sportsequipment and technical apparel and footwear, listed on the Helsinki StockExchange. Amer Sport's major brands include Wilson, Salomon, Precor, Atomic andSuunto, leading brands in their respective categories. Amer Sports provides equipment, technical apparel and footwear for a widevariety 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 statedcorporate objectives at the time of its IPO, which included considering theexpansion of its outdoor leisure offering as well as pursuing further strategicinvestment opportunities in the UK and overseas. Sports Direct International will continue to make and retain strategicinvestments where, and for so long as, the Board believes that the holding ofsuch investments provide the Company with the opportunity to gain a strategic orcommercial advantage and the investments are able to be made at pricesconsidered to be reasonable. The objective of the Board is to create value forthe 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 creditfacility. For further enquiries, please contact: Sports Direct InternationalDave Forsey, Chief Executive 0870 333 9400Bob Mellors, Group Financial Director Financial DynamicsJonathon Brill / Ben Foster / Andrew Dowler 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Frasers Group