Sports Direct International Plc
07 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 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
This information is provided by RNS
The company news service from the London Stock Exchange
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