News briefs - Corporate and M&A – Page 92
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News briefs
Gordon Stanley Merchant, founder of Billabong, has purchased 104,131 shares...
Gordon Stanley Merchant, founder of Billabong, has purchased 104,131 shares in the Australian company at a price of 67,570.61 Australian dollars (€42,476.92-$47,495.48). He thus owns 109,036,051 shares in Billabong, giving him a stake of a little over 11 percent. Oaktree Capital Management and Centerbridge Partners are still the largest shareholders, ...
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News briefs
Andrew Vara, the trustee appointed to oversee the bankruptcy of...
Andrew Vara, the trustee appointed to oversee the bankruptcy of Quiksilver in the U.S., has appointed a committee to represent the company's unsecured creditors in the court hearings due to be held next week. They are Justin Shearer from Global Corporate Trust Services, Baily Dent of New Generation Advisors, Ian ...
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News briefs
Acushnet, which is the parent company of Titleist and Footjoy,...
Acushnet, which is the parent company of Titleist and Footjoy, is holding discussions with various investment banks in preparation for a possible return to the stock market, according to Bloomberg. The company, which has been performing better than TaylorMade-Adidas Golf and other golf majors in a difficult market, was sold ...
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News briefs
IC Group raised its equity on Sept. 18 by 485,900...
IC Group raised its equity on Sept. 18 by 485,900 Danish kroner to DKK170,562,470 (€22,861,806-$25,562,392) through an exercise of warrants. The new capital consists of 17,056,247 shares and voting rights. IC Group, which is the parent company of Peak Performance, has also signed a market maker agreement with Danske Bank ...
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News briefs
Thule Group has inaugurated an expanded global testing center in...
Thule Group has inaugurated an expanded global testing center in Hillerstorp, Sweden. The new lab features a doubling of space - from 600 to 1,200 square meters - and additional tools that enable the testing of all products in Thule's expanding product portfolio, thanks to an additional investment of SEK20 ...
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News briefs
The sale of the Elan Group to Wiltan Enterprises and...
The sale of the Elan Group to Wiltan Enterprises and Merrill Lynch (see SGI Europe No. 26-25+26 of Aug. 10) has been completed with the return of state aid to the Slovenian government following a resolution by the European Commission, which challenged the legality of a €10 million subsidy given ...
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News briefs
Wolverine Worldwide remains interested in acquisitions, but while there are...
Wolverine Worldwide remains interested in acquisitions, but while there are plenty of actionable assets in the market, the valuations are a bit high. Wolverine would prefer a good brand with heritage with at least $75 million in revenues - ideally between $200 million and $600 million. An acquisition outside the ...
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News briefs
Transa Backpacking has a new shareholding structure as Beat Stünzi,...
Transa Backpacking has a new shareholding structure as Beat Stünzi, founder and majority shareholder of the leading Swiss outdoor retailer, decided to partly pull out, due to his age. The new majority shareholder is International Retail Corporation (IRC), a vehicle controlled by Beat Zaugg, chief executive and minority shareholder in ...
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News briefs
New Balance has moved into a new corporate head office...
New Balance has moved into a new corporate head office at the northwestern edge of Boston, close to the old one. About 700 New Balance employees occupy the new 250,000-square-foot building, which is part of the new Boston Landing development project financed by the Davis family, owner of New Balance. ...
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News briefs
Hero Cycles, the major Indian bicycle producer, has acquired control...
Hero Cycles, the major Indian bicycle producer, has acquired control of Avocet Sports, a major distributor of cycling products based in Manchester, U.K. In its attempt to enter the European market, Hero started two years talks for the takeover of Mifa, the financially stricken German bike producer, but they failed. ...
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News briefs
Shimano Europe has unveiled plans to open an “Experience Center”...
Shimano Europe has unveiled plans to open an “Experience Center” in the Netherlands in the spring of 2017. The center will be built in Valkenburg, in the southern part of the country, on the site of a former brewery. The activities offered by the park will focus on cycling, fishing ...
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News briefs
Alibaba Group Holding has established a new Alibaba Sports Group...
Alibaba Group Holding has established a new Alibaba Sports Group together with Sina Corporation and Yunfeng Capital. The idea is to leverage Alibaba's large e-commerce footprint in China with Sina's media resources to create an integrated, internet-based sports platform for the benefit of the sports industry, sports teams, sports fans ...
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News briefs
Nike has a new $2.0 billion revolving credit facility with...
Nike has a new $2.0 billion revolving credit facility with Bank of America, Citibank, Deutsche Bank and HSBC. Replacing a $1.0 billion line of credit, it matures in July 2020, with option for a two-year extension. At the end of the last quarter, Nike had cash and short-term investments worth ...
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News briefs
The share capital of IC Group, parent company of Peak...
The share capital of IC Group, parent company of Peak Performance, has been raised by 0.3 percent to 170,562,470 Danish kroner (€22.9m-$26.1m) through the exercise of warrants under two different programs that priced the new shares at DKK 136.00 and DKK 166.80, respectively. IC Group has derived gross proceeds of ...
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News briefs
Assos of Switzerland, the well-known maker of bikewear from Lugano,...
Assos of Switzerland, the well-known maker of bikewear from Lugano, has changed ownership. The founding Maier family has sold its shares to a pool of investors led by Phil Duff, the former chief executive of Black Diamond, the U.S. brand of outdoor and snow sports equipment. Duff will reportedly take ...
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News briefs
Thule Group has signed an agreement to sell its snow...
Thule Group has signed an agreement to sell its snow chain business to an Austrian-based company, Schneeketten. The divestment will allow Thule to focus more on its core outdoor and bags segment. Its snow chain division posted sales of 136 million Swedish kronor (€14.6m-$16.5m) in 2014. Its staff of 145 ...
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News briefs
Global Surf Industries (GSI) is now entirely owned by its...
Global Surf Industries (GSI) is now entirely owned by its founder Mark Kelly, according to reports in the Boardsport Source news service. Kelly started the company in 2002. Since then, GSI has evolved into one of the largest surfboard and stand-up paddleboard companies in the world, with domestic operations in ...
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News briefs
Suunto, a subsidiary of Amer Sports, has opened a new...
Suunto, a subsidiary of Amer Sports, has opened a new Mobile Competence Center in Tampere, Finland. The facility, which was inaugurated on Aug. 10, is focused on the development of digital services and native applications for both iOS and Android. Suunto said it decided to start the center because of ...
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News briefs
Several Dutch shoe retailers have filed for bankruptcy in the...
Several Dutch shoe retailers have filed for bankruptcy in the last few months, as reported in Shoe Intelligence, blaming competition and the economy. This time it's the turn of a major sporting goods retailer, Telstar Sports & Fashion, which operates several megastores in the country. According to Sport Partner, one ...
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News briefs
Since the autumn of 2014, there has been a steady...
Since the autumn of 2014, there has been a steady rise in the number of bankruptcies among Norwegian sporting goods retailers. The number increased from 15 bankruptcies in the first half of 2014, to 23 in the second half of last year, before rising further to 24 in the first ...
