REG - Frasers Group PLC - Business Acquisition update

FrasersAnnouncement

30/11/2023 16:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231130:nRSd2713Va&default-theme=true

RNS Number : 2713V  Frasers Group PLC  30 November 2023

Date: 30 November 2023

 

FRASERS GROUP PLC

("Frasers" or the "Group")

 

Update on agreement to acquire SportScheck

 

On 17 October 2023, Frasers Group plc ("Frasers" or the "Group") announced
that it had entered into a binding agreement with Signa Retail Department
Store Holding GmbH to acquire SportScheck (the "Agreement") (the
"Transaction").  The Transaction, which was subject to merger control
clearance, was to be effected by the acquisition of 100% of the share capital
in SportScheck GmbH.

 

SportScheck GmbH has today filed for insolvency. Frasers has exercised its
rights under the Agreement to withdraw from the Transaction.

 

While Frasers is disappointed by the insolvency of SportScheck, it continues
to believe that SportScheck is an attractive asset in one of Europe's most
important markets for Sports and it intends to work with the appointed
preliminary insolvency administrator of SportScheck with a view to acquiring
the SportScheck business/assets out of administration. Frasers remains
committed to our ambition to become the leading sports retailer in EMEA.

 

-ENDS-

 

 

 

 

 

 

 

Ends

 

 

 FRASERS GROUP PLC
 Robert Palmer, Company Secretary              T. 0344 245 9200

 LEI: 213800JEGHHEAXIJDX34                     E. company.secretary@frasers.group (mailto:company.secretary@frasers.group)
 Chris Wootton, Chief Financial Officer        T. 0344 245 9200

                                               E. financial@frasers.group
 Ronnie Laffar, Group Head of Communications   T. 07931 841082

                                               E. fgpr@frasers.group
 Andrew Kasoulis, Investor Relations Director  T. 07826 532191

                                               E. investor.relations@frasers.group
 Rosie Oddy, Brunswick Group, PR Advisors      T. 07734 861279

                                               E. frasersgroup@brunswickgroup.com (mailto:frasersgroup@brunswickgroup.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQEBLFXXFLXFBD