TaylorMade, Adams Golf and Ashworth golf brands have been sold to a private equity firm for a total consideration of $425m or some €390m. About half of this is to be paid in cash and the remainder in a combination of secured note and other contingent considerations. The deal is expected to be closed before the end of 2017. Until then, this activity will be regarded as discontinued.
11 May 2017
Golf brands sold at a loss of some €100m
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Golf brands sold at a loss of some €100m
adidas AG (ADS:WBO) | 0 0 1.8% | Mkt Cap: 37,743m
- Published:
11 May 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
TaylorMade, Adams Golf and Ashworth golf brands have been sold to a private equity firm for a total consideration of $425m or some €390m. About half of this is to be paid in cash and the remainder in a combination of secured note and other contingent considerations. The deal is expected to be closed before the end of 2017. Until then, this activity will be regarded as discontinued.