adidas-Salomon to sell Salomon to Amer Sports Corporation
Herzogenaurach / Helsinki - adidas-Salomon AG announced today that it has entered into a sale and purchase agreement to sell its Salomon business segment, including the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx and Cliché, to the Amer Sports Corporation. This agreement has been approved by the adidas-Salomon Supervisory Board. The transaction values the segment at approximately € 485 million based on year-end 2004 figures. The final cash purchase price will be adjusted to reflect changes in capital employed. In addition, adidas-Salomon and Amer will enter into collaboration agreements in order to ensure a smooth transition. The sale is subject to antitrust authorities' approval in the EU, the US and other relevant jurisdictions. The transaction is expected to complete by the end of September 2005.