BristolMike
Head Pro
It's official:
"Adidas today announced the signing of a definitive agreement to sell its golf brands TaylorMade, Adams Golf and Ashworth to a company newly founded by KPS Capital Partners, LP. Approximately half of the purchase price totaling US $ 425 million will be paid in cash. The remaining payment is made by a combination of a secured bond and contingent consideration. The transaction is subject to the usual closing conditions and is expected to be completed in 2017. The transaction will have a negative impact on adidas' income statement with a non-operating amount in the high double-digit to low three-digit million euro range."
"Adidas today announced the signing of a definitive agreement to sell its golf brands TaylorMade, Adams Golf and Ashworth to a company newly founded by KPS Capital Partners, LP. Approximately half of the purchase price totaling US $ 425 million will be paid in cash. The remaining payment is made by a combination of a secured bond and contingent consideration. The transaction is subject to the usual closing conditions and is expected to be completed in 2017. The transaction will have a negative impact on adidas' income statement with a non-operating amount in the high double-digit to low three-digit million euro range."
