Adidas-Salomon agrees to sell Salomon to Amer Sports

0 Comments | AFP, May, 2005

HERZOGENAURACH, Germany (AFP) — Adidas-Salomon, the German maker of sportswear and equipment, said it had agreed to sell its French subsidiary Salomon to Finnish firm Amer Sports Corporation in a deal that valued Salomon at around 485 million euros (621 million dollars).

"The final cash purchase price will be adjusted to reflect changes in capital employed," Adidas-Salomon said in a statement Monday.

The transaction, which covered Annecy-based Salomon and its related brands -- Salomon, Mavic, Bonfire, Arc'Teryx amd Cliche -- was expected to be completed by September, pending the necessary regulatory approval in Europe and the United States, the statement said.

Salomon specialises in winter sports, alpine and cross-country skis, snowboards and inline skates....