Business
Business Acquisition update
Business Acquisition update.
About this update from Frasers Group Plc
[{"type":"text","content":"\n\nDate: 30 November 2023\n \nFRASERS GROUP PLC\n(\"Frasers\" or the \"Group\")\n \nUpdate on agreement to acquire SportScheck\n \nOn 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. \n \nSportScheck GmbH has today filed for insolvency. Frasers has exercised its rights under the Agreement to withdraw from the Transaction.\n \nWhile 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.\n \n-ENDS-\n \n \n \n \n \n \n \nEnds\n \n \n\n\n\n\nFRASERS GROUP PLC\n\n\n\n\n\n\n\nRobert Palmer, Company Secretary\nLEI: 213800JEGHHEAXIJDX34\n\n\nT. 0344 245 9200\nE. [email protected]\n\n\n\n\nChris Wootton, Chief Financial Officer\n\n\nT. 0344 245 9200\nE. [email protected]\n\n\n\n\nRonnie Laffar, Group Head of Communications\n\n\nT. 07931 841082\nE. [email protected]\n\n\n\n\nAndrew Kasoulis, Investor Relations Director\n\n\nT. 07826 532191\nE. [email protected]\n\n\n\n\nRosie Oddy, Brunswick Group, PR Advisors\n\n\nT. 07734 861279\nE. [email protected]\n\n\n\n\n \n\n","length":5284,"tagName":"div"}]