News briefs - Corporate and M&A – Page 104
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News briefs
Exceed Corporation has decided to adjourn a special shareholders' meeting...
Exceed Corporation has decided to adjourn a special shareholders' meeting that was going to vote on April 16 to take the Chinese company private, based on a merger proposal made last December. Pan Long Company, the investment vehicle of Exceed's chief executive, Shuipan Lin, was going to take over all ...
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News briefs
Head NV announced today that it has acquired a total...
Head NV announced today that it has acquired a total of 14,865,236 shares in the company at €1.60 each. The shares were tendered in response to an unconditional offer made by Head on March 28, after a series of conditional offers under which the company would have bought back its ...
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News briefs
Nordea Funds Oy's stake in Rapala VMC Corporation has risen...
Nordea Funds Oy's stake in Rapala VMC Corporation has risen to 11.07 percent. Meanwhile, Rapala has decided to cancel 468,449 treasury shares, reducing their total number of 465,407, representing 1.2 percent of the equity.
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News briefs
Zalando became a limited liability corporation (AG) last December, but...
Zalando became a limited liability corporation (AG) last December, but it will again change its status to a Societas Europaea (SE), or European corporation, next summer. The change is expected to facilitate cooperation across national borders for this big and growing German-based internet retailer, which is still considering a public ...
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News briefs
IC Companys has signed an agreement to divest its Mid...
IC Companys has signed an agreement to divest its Mid Market division, leaving the Danish apparel group with only three brands: Peak Performance, Tiger of Sweden and By Marlene Birger. The group pointed out that these three brands, which were recently put in a new Premium segment of the company, ...
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News briefs
Sports Direct International is proposing to grant a special conditional...
Sports Direct International is proposing to grant a special conditional option on eight million ordinary shares, worth a total of £65.8 million (€79.6m-$109.7m) to its founder and major shareholder, Mike Ashley, in recognition of its success. Ashley already owns 62 percent of the shares. The award would be granted to ...
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News briefs
Li & Fung plans to spin off its global brands...
Li & Fung plans to spin off its global brands and licensing business, with a separate stock exchange listing and a goal of doubling its profitability by the end of 2016. The unit generated an operating profit of $534 million on sales of $3.3 billion last year. The sourcing company's ...
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News briefs
Lions Capital has reportedly asked the Rothschild bank to investigate...
Lions Capital has reportedly asked the Rothschild bank to investigate strategic options for the big Belgian-based outdoor retailer, which also owns Bever Zwerfsport in the Netherlands and Cotswold Outdoor in the U.K. The options may include a public offering or a transfer of ownership (more in The Outdoor Industry Compass).
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News briefs
Groupe Go Sport's parent company, Rallye has successfully placed a...
Groupe Go Sport's parent company, Rallye has successfully placed a new seven-year bond worth €500 million. Bearing a yield of 4 percent, it was significantly oversubscribed. Banca IMI, BNP Paribas, CM-CIC, Société Générale, The Royal Bank of Scotland and UBS acted as joint bookrunners for the new bond issue. BNP ...
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News briefs
Head has launched a new tender offer to buy back...
Head has launched a new tender offer to buy back its shares, but this time it's not conditional on the number of shares tendered, and the company is offering to pay only €1.60 a share instead of the previously offered price of €1.90. According to Head, shareholders who own more ...
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News briefs
A total of 438 shares granted as share-based incentives were...
A total of 438 shares granted as share-based incentives were returned to Amer Sports on March 18, 2014 in accordance with the terms of the incentive plan as the beneficiaries' employment ended. Amer now holds a total of 572,699 treasury shares, corresponding to 0.48% of all the company's shares.
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News briefs
Direct Golf UK is investing in new storage and distribution...
Direct Golf UK is investing in new storage and distribution systems. The Yorkshire-based specialist golf retailer has outgrown its existing home in an old textile mill in Huddersfield and has joined forces with Mosaic Fulfilment Solutions (MFS) to move its outdated storage and distribution center to Wetherby. MFS will provide ...
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News briefs
Shock Doctor Sports, best known for its mouth guards, has...
Shock Doctor Sports, best known for its mouth guards, has been acquired by Bregal Partners, a middle-market New York-based private equity firm, for an undisclosed amount. Shock Doctor had been owned since 2008 by Norwest Equity Partners, an investment firm based in Minneapolis. Bregal's portfolio of investments focuses on consumer ...
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News briefs
Calida Holding of Switzerland has ended up with 59.92 percent...
Calida Holding of Switzerland has ended up with 59.92 percent of the shares in the Lafuma Group, up from 53.07 percent as of last Dec. 31, after a series of refinancing measures that have cut down its debt drastically and boosted equity to $56.88 million. A positive operating cash flow ...
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News briefs
El Corte Inglés, the Spanish department store group that remains...
El Corte Inglés, the Spanish department store group that remains one of the major sporting goods retailers in its domestic market, is gearing up to launch a special web store in the U.K., Ireland and the Netherlands, proposing to become the biggest marketplace for Spanish brands in Europe. Desigual, which ...
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News briefs
The Merkur Shoe Group (MSG), a German cooperative of shoe...
The Merkur Shoe Group (MSG), a German cooperative of shoe retailers, is taking over 23 of the 50-odd stores of Fink Schue + Sport, the insolvent German retailer. Members of MSG will be running them as licensees of Fink. The receivers are looking for investors who would like to acquire ...
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News briefs
Nike has taken a minority stake in California-based Reflektion, an...
Nike has taken a minority stake in California-based Reflektion, an e-commerce start-up that uses analytics to predict shopping habits. Reflektion announced this week it has secured an $8 million series B round of venture capital for its technology that helps retailers personalize the online shopping experience for consumers. Intel Capital ...
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News briefs
Singapore is building up as an important development hub for...
Singapore is building up as an important development hub for sporting goods companies in Asia (see also the article on Oxylane in this issue). Mizuno Corporation has set up an office in Singapore to coordinate its activities in Southeast Asia, India and New Zealand. Kiyoshi Tatani has been appointed president ...
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News briefs
Prince Global Sports is relocating its world headquarters from New...
Prince Global Sports is relocating its world headquarters from New Jersey to the Buckhead area of Atlanta following its 2012 acquisition by Waitt Company, which has installed Mike Ballardie as its chief executive. Ballardie, who has moved there from the U.K., feels that Atlanta is a natural site for the ...
