Wanda Sports Enters into Agreement to Sell The IRONMAN Group to Advance
Wanda Sports Group Company Limited (WSG)
Last wanda sports group company limited earnings: 11/18 12:55 am
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Source: GlobeNewswire
BEIJING, March 26, 2020 (GLOBE NEWSWIRE) -- Wanda Sports Group Company Limited (the “Company” or “Wanda Sports Group”) (NASDAQ: WSG) today announced that it has entered into a definitive stock purchase agreement with Advance, a private, family-owned business, to sell The IRONMAN Group in an all cash transaction at an enterprise value of US $730 million (subject to customary purchase price adjustments). The IRONMAN Group is comprised of a global portfolio of mass participation sports events, across triathlon, running, trail running, cycling and mountain biking. As part of the agreement, Wanda Sports Group will continue to operate IRONMAN® and IRONMAN® 70.3® triathlon series, Rock 'n' Roll Marathon Series® and Epic Series® off-road mountain bike series races of The IRONMAN Group in China under an exclusive license agreement. Hengming Yang, President and CEO of Wanda Sports Group, said: “This transaction represents a great outcome for both parties. Advance is acquiring the world’s l
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