23rd Jan 2008 07:01
Sports Direct International Plc23 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 a4.96% stake in Amer Sports Corporation, the multi-branded manufacturer of sportsequipment and technical apparel and footwear, listed on the Helsinki StockExchange. 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 drawdownunder existing facilities. Previously the Company sold an earlier investment inAmer Sports Corporation on 7th November 2007 for approximately €19 per share. The Company continues to believe that Amer fits its criteria for strategicinvestments. The Company makes and retains strategic investments where, and forso long as, the Board believes that the holding of such investments provide theCompany with the opportunity to gain strategic or commercial advantage and theinvestments are able to be made at prices considered to be reasonable. TheBoard's objective is to create value for the Company's shareholders via suchstrategic investment. Amer Sports major brands are Wilson, Salomon, Precor, Atomic and Suunto, allleading brands in their respective categories. Ends Enquiries: Sports Direct International plc Tel: 0870 333 9400Dave Forsey, Chief ExecutiveBob Mellors, Group Finance Director Financial Dynamics Tel: 0207 831 3113Andrew Dowler/Jonathon Brill/Ben Foster This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Frasers Group