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adidas-Salomon completes Salomon's Amer Sports divestiture
21 Oct '05
2 min read
Herzogenaurach based footwear major adidas-Salomon AG announced that it has formally completed the divestiture of its Salomon business segment to the Amer Sports Corporation. As previously announced, the transaction value for the Salomon business segment is approximately € 485 million based on year-end 2004 figures.
The final price will be adjusted in accordance with net assets as at September 30, 2005. Following the completion of the divestiture of the Salomon business segment on October 19, 2005, the Salomon segment will be deconsolidated at the beginning of the fourth quarter 2005.
The Salomon business segment includes the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx and Cliché. In conjunction with the transaction, adidas-Salomon and Amer have entered into collaboration agreements in order to ensure a smooth transition post closing.
adidas-Salomon CEO Herbert Hainer stated that with the Salomon divestiture now complete, the organization is now devoting its energies to the adidas and TaylorMade brands and the next major steps lying ahead of them. The Salomon family of brands continues to offer considerable promise and they wish them all the best for their future.
German sporting goods leader adidas-Salomon delivers state-of-the-art sports footwear, apparel and accessories. Products from the adidas Group are available in virtually every country of the world. Company strategy is simple: continuously strengthen the brands and products to improve the competitive position and financial performance.
The final price will be adjusted in accordance with net assets as at September 30, 2005. Following the completion of the divestiture of the Salomon business segment on October 19, 2005, the Salomon segment will be deconsolidated at the beginning of the fourth quarter 2005.
The Salomon business segment includes the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx and Cliché. In conjunction with the transaction, adidas-Salomon and Amer have entered into collaboration agreements in order to ensure a smooth transition post closing.
adidas-Salomon CEO Herbert Hainer stated that with the Salomon divestiture now complete, the organization is now devoting its energies to the adidas and TaylorMade brands and the next major steps lying ahead of them. The Salomon family of brands continues to offer considerable promise and they wish them all the best for their future.
German sporting goods leader adidas-Salomon delivers state-of-the-art sports footwear, apparel and accessories. Products from the adidas Group are available in virtually every country of the world. Company strategy is simple: continuously strengthen the brands and products to improve the competitive position and financial performance.
adidas-Salomon AG
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