Sports Direct International Plc
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 Wilson, Salomon, Precor, Atomic and Suunto, all
leading brands in their respective categories.
Ends
Enquiries:
Sports Direct International plc Tel: 0870 333 9400
Dave Forsey, Chief Executive
Bob Mellors, Group Finance Director
Financial Dynamics Tel: 0207 831 3113
Andrew Dowler/Jonathon Brill/Ben Foster
This information is provided by RNS
The company news service from the London Stock Exchange
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