The EU competition authorities have approved the acquisition whereby Amer Sports Corporation will assume ownership of Salomon from adidas-Salomon AG. The US competition authorities have given their approval earlier. The transaction is expected to be completed within the next week.
The Salomon business segment includes the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx, and Cliché. The transaction value for the Salomon business segment is expected to be approximately 485 million euros based on year-end 2004 figures. According to the agreement, the final price will be set in accordance with net assets as at September 30, 2005. Amer Sports and adidas companies will cooperate for a maximum period of three years to ensure smooth transition of the businesses.
"Salomon's product offering fits perfectly with our business model and improves the position of our brands", says Roger Talermo, President and CEO, Amer Sports Corporation.
Amer Sports has previously published releases on the acquisition on May 2, 2005, and September 21, 2005. The stock exchange releases provide more detailed information on Salomon's business operations and their integration into Amer Sports Corporation.
The Salomon business segment includes the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx, and Cliché. The transaction value for the Salomon business segment is expected to be approximately 485 million euros based on year-end 2004 figures. According to the agreement, the final price will be set in accordance with net assets as at September 30, 2005. Amer Sports and adidas companies will cooperate for a maximum period of three years to ensure smooth transition of the businesses.
"Salomon's product offering fits perfectly with our business model and improves the position of our brands", says Roger Talermo, President and CEO, Amer Sports Corporation.
Amer Sports has previously published releases on the acquisition on May 2, 2005, and September 21, 2005. The stock exchange releases provide more detailed information on Salomon's business operations and their integration into Amer Sports Corporation.
