On 15 August, Amer Sports applied for the termination of public trading in its shares and for the delisting of Amer Sports’ shares from the official list of Nasdaq Helsinki. This move follows investment consortium Mascot Bidco Oy gaining title to all the shares in Amer Sports.
As part of a divestment plan, Amer Sports recently completed the sale of the shares and related cycling business of Mavic to private equity firm Regent. Amer Sports’ retained brands are: Arc’teryx, Armada Skis, Atomic, Demarini, ENVE, Louisville Slugger, Peak Performance, Precor, Salomon, Sports Tracker, Suunto and Wilson.
ANTA Sports Products, as an indirect shareholder of Mascot Bidco Oy, now accounts for Amer Sports as part of its investment in a joint venture after the acquisition. As a result Amer Sports’ second quarter financial information is included in ANTA Sports’ 2019 interim financial report.
The Finland Chamber of Commerce has confirmed that Mascot Bidco Oy has the right to redeem the minority shares in Amer Sports. As a result, Mascot has the right to obtain title to these outstanding minority shares. This will be done by posting a security approved by an appointed Arbitral Tribunal for the payment of the redemption price on the minority shares and any interest accruing.
Amer Sports has requested that the quotation of its shares on the official list of Nasdaq Helsinki be terminated as soon as possible upon Mascot having gained title to all the shares in Amer Sports in the redemption proceedings.
Following the confirmation of Mascot’s redemption right, Nasdaq Helsinki has suspended public trading in Amer Sports’ shares. The posting of the security and the subsequent delisting of Amer Sports’ shares will be announced in due course through a separate stock exchange release.