Salomon divestiture to fulfill by Mid-October

26 Sep '05

1 min read

Herzogenaurach based footwear, apparel and accessories maker of adidas-Salomon's divestiture of the Salomon business segment to Amer Sports Corporation, announced on May 2, 2005, is now anticipated to be completed in mid-October, instead of the end of September as expected earlier. The change is due to the EU competition authorities' revised processing schedule and will not impact the financial terms of the transaction.

Consolidation of the Salomon business segment within the adidas-Salomon Group is still expected to end on September 30, 2005. adidas-Salomon is one of the global leaders within the sporting goods industry and offers a broad range of products with brands such as adidas and TaylorMade in its portfolio. In 2004, adidas-Salomon posted net sales of € 6.5 billion and net income of € 314 million.

Germany based adidas-Salomon is the second largest sporting goods company in the world with its core brands adidas and TaylorMade–adidas Golf. Excluding the Salomon business segment, which is planned for divestiture at the end of September, the adidas Group had 14,217 employees and reached sales of €5.9 billion in 2004. The Group's net income attributable to shareholders from continuing and discontinued operations reached €314 million in 2004.

adidas-Salomon

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