News briefs - Corporate and M&A – Page 61
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News briefs
Four years after acquiring Runtastic for €220 million, Adidas is...
Four years after acquiring Runtastic for €220 million, Adidas is further integrating the app into its own e-commerce platform. Adidas is now using Runtastic to power its Adidas Running and Adidas Training apps, through which users will be collecting points and connecting to the Adidas' Creators Club, a free membership ...
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News briefs
Wolverine Worldwide's board has approved a share repurchase program which...
Wolverine Worldwide's board has approved a share repurchase program which will return $400 million to shareholders over the next four years. The footwear group said it will repurchase shares as appropriate and in compliance with any restrictions contained in the company's credit agreements.
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News briefs
Standard and Poor's has downgraded the rating outlook for Wolverine...
Standard and Poor's has downgraded the rating outlook for Wolverine Worldwide from stable to BB+ because its financial leverage has risen to three times due to spending on share buybacks. The leverage may grow beyond three times if the Ebitda margin doesn't improve from its current level of 5 percent ...
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News briefs
Sports Direct International has reported on new share buybacks twice...
Sports Direct International has reported on new share buybacks twice in the last few days. They have raised the number of shares held in treasury to 117,209,901 as of Oct. 2, out of a total of 523,392,468 ordinary shares, which is equal to the number of voting rights.
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News briefs
While sharpening its focus on luxury goods, Kering has continued...
While sharpening its focus on luxury goods, Kering has continued to reduce its stake in Puma, which it bought over a decade ago. The owner of fashion brands Gucci and Yves Saint-Laurent has issued a €500 million bond that holders can exchange for Kering's shares in Puma at maturity, allowing ...
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News briefs
Head International has started construction of its new ski plant...
Head International has started construction of its new ski plant in the Vinnitsia Oblast of Ukraine, the regional administration said in a statement on its website on Sept. 13. The new plant is slated to begin operation in 2021. Head said last year that it had chosen Ukraine over other ...
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News briefs
Dorel Industries of Montreal, owner of cycling brands such as...
Dorel Industries of Montreal, owner of cycling brands such as Cannondale, GT and Schwinn as well as brands in other sectors, has suspended the planned payment of its dividend and seen a significant decline in its market capitalization. From Sept. 30 to Oct. 2, its B-class shares dropped by 32 ...
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News briefs
Puma is reorganizing the business structure of Austria Puma Dassler,...
Puma is reorganizing the business structure of Austria Puma Dassler, the head office for Eastern Europe, the Middle East and Africa, located in Salzburg, Austria. The new structure will take effect on Jan. 1, 2020. Austria Puma Dassler has been handling all purchasing for Puma's subsidiaries in the three regions, ...
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News briefs
Columbia Sportswear has purchased three buildings from Electro Scientific Industries...
Columbia Sportswear has purchased three buildings from Electro Scientific Industries (ESI), a firm specialized in laser applications. All lie within a quarter-mile of Columbia's current headquarters in Washington County, Oregon, and will expand it. The additional 200,000 square feet of space are costing about $33 million. The first building should ...
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News briefs
The Signa Group, whose holdings in the sports retail sector...
The Signa Group, whose holdings in the sports retail sector include Karstadt Sports and numerous web stores, has reported a total capital increase of €1.2 billion. New equity of €700 million has been injected by existing shareholders. Furthermore, its largest subsidiary, Signa Prime Selection, which is the main real estate ...
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News briefs
Mascot Bidco Oy, the investment consortium led by Anta Sports...
Mascot Bidco Oy, the investment consortium led by Anta Sports Products, reports that it has gained title to all the shares in Amer Sports through the redemption of those that had not been tendered already. The stock was de-listed from the Nasdaq Helsinki exchange on Aug. 23.
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News briefs
Dennis James “Chip” Wilson's investment in China's Anta Sports Products...
Dennis James “Chip” Wilson's investment in China's Anta Sports Products has paid off handsomely. The billionaire founder of Lululemon had paid $100 million to buy a 0.59 percent stake in the big and fast-growing Chinese company in May 2018. Shares in the Chinese company have risen strongly since then, along ...
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News briefs
Arena has announced the acquisition of the global trademark rights...
Arena has announced the acquisition of the global trademark rights for Diana, a less well-known Italian brand of swimwear founded in 1947. Diana started off with lingerie and began to produce swimwear in 1955. It created the first swimsuits and accessories for water polo. It subsequently introduced one-piece swim suits ...
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News briefs
Bollé Brands has acquired the Spy Optica brand of action...
Bollé Brands has acquired the Spy Optica brand of action sports eyewear. The terms of the takeover were not disclosed. Founded in Southern California in 1994, Spy went public but struggled for a while. Bollé Brands is the new company founded after the acquisition of Bollé, Serengeti, Cébé and H2Optics ...
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News briefs
Nike has inaugurated a new European distribution center in Ham,...
Nike has inaugurated a new European distribution center in Ham, Belgium, that is entirely powered by renewable energy. Called the Court, it uses state-of-the-art technology that should help accelerate deliveries of online orders directly to consumers. Measuring 1.5 million square feet, it uses wind, solar, geothermal, hydroelectric and biomass energy. ...
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News briefs
Nike has announced that it will name the newest building...
Nike has announced that it will name the newest building in the expansion of its world headquarters in Beaverton after LeBron James, the NBA legend, two-time Olympic gold medalist and a Nike athlete since 2003. It is the sixth new building at the company's world campus since it started an ...
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News briefs
Wolverine Worldwide's board has approved a share repurchase program which...
Wolverine Worldwide's board has approved a share repurchase program which will return $400 million to shareholders over the next four years. The footwear group said it will repurchase shares as appropriate and in compliance with any restrictions contained in the company's credit agreements.
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News briefs
Mike Ashley, chief executive and majority shareholder of Sports Direct...
Mike Ashley, chief executive and majority shareholder of Sports Direct International, reportedly managed to get all resolutions passed at the company's annual general meeting last week, where the media were banned from attending. He refused to accept an independent review of corporate governance as all the major auditing firms have ...
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News briefs
The Alibaba Group's charismatic founder and chairman, Jack Ma, has...
The Alibaba Group's charismatic founder and chairman, Jack Ma, has retired at the age of 55. Ma, who founded the Chinese online giant 20 years ago, plans to spend more time on philanthropy and education, and with his family. Daniel Zhang, the company's chief executive, will take over the chairman's ...
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News briefs
Cole Haan, the American footwear brand sold by the Nike...
Cole Haan, the American footwear brand sold by the Nike group to Apax Partners in 2013, is readying a public offering on the stock exchange, according to Bloomberg. The news agency reported that the company's revenues rose by 14 percent to €687 million in the financial year ended in June ...
