News briefs - Corporate and M&A – Page 90
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News briefs
A Hong Kong-based financial service company registered in the Seychelles...
A Hong Kong-based financial service company registered in the Seychelles islands, Yucheng International, has agreed to acquire the 64.15 percent stake held by Pegasus Footgear Management in its shoe factory in Guangzhou, Pegasus International Holding, subject to various conditions. It would subsequently make a bid for the remaining shares of ...
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News briefs
Sport Eco reports that Go Sport, the French sports retailer,...
Sport Eco reports that Go Sport, the French sports retailer, has acquired Tool Sport, a French online retailer that went into receivership earlier this year. Go Sport declined to comment but the customer service department at Tool Sport said that the company has been renamed Go Sport Développement. For the ...
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News briefs
The board of directors of Intersport PSC Holding, which is...
The board of directors of Intersport PSC Holding, which is the Swiss licensee of Intersport, has decided to apply for de-listing on the SIX Swiss stock exchange by the summer of 2016 because of the small volume of transactions with its shares and the cost of remaining a public company. ...
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News briefs
The Saarbrücker Nachrichten published an unconfirmed report that ZEG, the...
The Saarbrücker Nachrichten published an unconfirmed report that ZEG, the German-based buying group for bicycle dealers, could purchase the bicycle production unit of Kettler, the German supplier of fitness and garden equipment, which went into self-administered receivership in June. As reported in our previous issue, Kettler said it was working ...
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News briefs
Bench, which is now run by Bruno Salzer out of...
Bench, which is now run by Bruno Salzer out of its Munich office, has cut by half the team at its head office in Manchester, previously made up of 120 people, and expanded operations in Germany. Roles across various areas, among which are “design and communication” and other important functions, ...
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News briefs
Oaktree Capital Management, which has lent $175 million to Quiksilver...
Oaktree Capital Management, which has lent $175 million to Quiksilver to keep operating while its U.S. business is in bankruptcy proceedings, has reportedly retained Alix Partners as an advisor for the possible acquisition of the entire company. Quoting unnamed sources, Bloomberg says that other investors may be interested in Quik ...
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News briefs
As planned, Kevin Plank, Under Armour (UA)'s chairman and chief...
As planned, Kevin Plank, Under Armour (UA)'s chairman and chief executive, has entered into a pre-arranged stock trading plan to sell up to 1,125,000 shares of UA's class B common stock that he personally owns and up to 125,000 shares of the class B stock held by his charitable trust. ...
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News briefs
Adidas is offering design resources and financial assistance to high...
Adidas is offering design resources and financial assistance to high schools in the U.S. that want to change their mascot names and identities, to move away from mascots with “potentially harmful” Native American imagery or symbolism. Aligned with the Adidas Group's “open source” strategy, the voluntary initiative was announced in ...
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News briefs
The Scott Sports group continues its strong external growth strategy....
The Scott Sports group continues its strong external growth strategy. We understand that it is already working on another acquisition, which may be sealed before the end of this year, after striking a preliminary agreement last month for the takeover of Dolomite from the Tecnica Group. Scott's management indicates that ...
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Le Chameau has decided to shut down its French manufacturing...
Le Chameau has decided to shut down its French manufacturing plant at Cahan near Flers, which employs 55 workers. The factory makes some of the high-end hunting boots in rubber and leather sold by the company. The production is expected to be transferred to another plant owned by the company ...
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News briefs
Implus, a U.S. company that owns a lot of brands...
Implus, a U.S. company that owns a lot of brands relating to sports, fitness and footwear, has added Fuelbelt, which specializes in hydration belts and running accessories. Acquired at an undisclosed price, Fuelbelt is to be included in the specialty category of Implus, alongside Balega socks, Triggerpoint and Sof Sole. ...
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News briefs
Manz, a German engineering company, has formally signed a partnership...
Manz, a German engineering company, has formally signed a partnership agreement with Adidas to contribute to its Speedfactory project. The company, based in Reutlingen, says the deal builds on the development of new automated production technology for sports equipment, allowing the design of custom-tailored shoe components, textiles and accessories to ...
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News briefs
Kettler says it has negotiated with employee representatives a rescue...
Kettler says it has negotiated with employee representatives a rescue plan involving the elimination of 198 jobs as part of wider restructuring measures. The German fitness and leisure equipment company went into self-administered receivership in June, while several investors were said to show interest in the family-owned company. Creditors supported ...
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News briefs
Newton Running has reportedly laid off some sales representatives and...
Newton Running has reportedly laid off some sales representatives and staff members at its head office in Boulder, Colorado, as part of a restructuring plan led by Joe O'Neil, who became the company's chief executive at the beginning of this month. Newton declined to provide details on the reorganization, which ...
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News briefs
Johnson Outdoors has acquired Seabear Diving Technology, an Austrian start-up...
Johnson Outdoors has acquired Seabear Diving Technology, an Austrian start-up specializing in underwater instrumentation. It makes electronic equipment for divers, such as smart watches and technical dive computers that can be used underwater. Arne Sieber, Seabear's founder and principal, is to join the diving unit of Johnson Outdoors, which predominantly ...
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News briefs
Jarden Corp. has raised net proceeds of $475 million from...
Jarden Corp. has raised net proceeds of $475 million from its previously reported secondary offering of 10 million shares, plus an additional 1.5 million shares as a greenshoe option. The proceeds will be used for the planned acquisition of Jostens.
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News briefs
Li Ning Company has agreed to sell a 10 percent...
Li Ning Company has agreed to sell a 10 percent stake in Shanghai Double Happiness for about 125 million renmimbi (€18.0m-$20.0m) in cash to the Viva China Group. The transaction will reduce Li Ning's share in the Chinese table tennis company to 47.5 percent, leaving it still as its largest ...
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News briefs
The Quiksilver group, which filed for bankruptcy for its U.S....
The Quiksilver group, which filed for bankruptcy for its U.S. business in September, has reportedly asked bankruptcy authorities for permission to sell Ampla, its startup running-shoe brand, to two former employees for $200,000. Ampla was launched by Quiksilver two years ago but it's one of the assets that are no ...
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News briefs
Jarden Corp. has launched a secondary offering, due to close...
Jarden Corp. has launched a secondary offering, due to close on Oct. 21, for 10 million shares priced at $49.00 each, plus an overallotment of 1.5 million shares. The proceeds will be used to fund a portion of its planned acquisition of Jostens, a company that supplies high-school memorabilia such ...
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News briefs
IC Group's board of director has decided to initiate a...
IC Group's board of director has decided to initiate a new program that will grant up to 61,113 performance shares to the members of its global management team and other selected executives, for a total of 23 participants. They will have an opportunity to get one-quarter of the shares depending ...
