Key Developments: Sports Direct International PLC (SDIPF.PK)
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21 Aug 2012
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Latest Key Developments (Source: Significant Developments)
Sports Direct International PLC To Shutter 20 Republic Stores-Reuters
Reuters reported that Sports Direct International PLC said it would shutter 20 of its newly acquired Republic stores unless landlords Intu Properties and Land Securities Group agreed to lower rent prices, Britain's Daily Telegraph reported. The 500 employees from these stores are to be redeployed to other Sports Direct, Republic and USC stores, the Company told the Telegraph. Full Article
Sports Direct International PLC Announces Acquisition Of Major Stake In Two European Sporting Goods Retailers
Sports Direct International PLC announced that it has entered into separate agreements to acquire majority stakes in two European sporting goods retailers: (i) Sports Eybl & Sports Experts AG (EAG), based in Austria; and (ii) Sportland International Group (SIG), based in the Baltic region. The Company has entered into an agreement to acquire a 51% equity stake in EAG. The acquisition of EAG will be made by Sportsdirect.com Retail Limited, a wholly owned subsidiary of Sports Direct. The consideration for the EAG transaction comprises GBp10.5 million payable to the current shareholders of EAG - EYBL Holding AG and LUDWIG EYBL Privatstiftung (the Eybl Family). In addition, Sports Direct has agreed to invest GBP30.0 million in subordinated debt in EAG. Following completion, Sports Direct has the right for five years to acquire the remaining shares in EAG from the Eybl Family for GBP15.5 million. During this period, the Eybl Family also has the right to sell its remaining shares in EAG to Sports Direct for GBP5.0 million. The Company will also acquire a 60% equity stake in SIG, the sporting goods retailer in the Baltic region. The SIG transaction is subject to various conditions, including clearance from local competition authorities, and is expected to complete by 30 June 2013. Full Article
Sports Direct International PLC Reaffirms FY 2013 EBITDA Guidance
Sports Direct International PLC announced that for fiscal 2013, it expects reaching the targeted underlying EBITDA of GBP270 million. Full Article
Sports Direct International PLC Issues FY 2013 EBITDA Guidance
Sports Direct International PLC announced that for fiscal 2013, it expects reaching the targeted underlying EBITDA of GBP270 million (before the charge for the bonus share schemes). Full Article
Sports Direct International PLC Not To Recommend Dividend
Sports Direct International PLC announced that the board has decided not to pay a dividend in respect of the half-year. Full Article
Sports Direct International Plc Reaffirms FY 2013 EBITDA Guidance
Sports Direct International Plc announced that the Board is confident of reaching the fiscal 2013 targeted super stretch underlying EBITDA of GBP270 million (before the charge for the bonus share schemes). Full Article
Sports Direct International Plc To Buy 60 JJB Sports plc's Stores-Reuters
Reuters reported that JJB Sports plc is set to begin with Sports Direct International Plc sealing a deal to buy 60 of its stores. Sports Direct, which owns Sports Direct.com and Lillywhites stores as well as brands including Slazenger, Dunlop and Lonsdale, will take 20 JJB stores immediately, with the balance of 40 stores held separately as their purchase will be subject to approval from Britain's Office of Fair Trading (OFT). Full Article
Sports Direct International Plc Reaffirms FY 2013 EBITDA Guidance
Sports Direct International Plc announced that it continues to target fiscal 2013 super stretch underlying EBITDA objective of GBP270 million (before the charge for the bonus share schemes). Full Article
Sports Direct International Plc Announces Withdrawal Of Possible Offer For Blacks Leisure Group plc
Sports Direct International Plc announced that on December 13, 2011, Blacks Leisure Group plc announced that it had received an expression of interest from Sports Direct International plc (Sports Direct), amongst a number of others, which may or may not lead to an offer being made for Blacks Leisure. On December 13, 2011, Sports Direct announced that there could be no certainty that it would make an offer for Blacks Leisure, nor as to the terms on which any such offer might be made. Further to these announcements and after careful consideration, notwithstanding that Sports Direct remains a committed and supportive shareholder of Blacks Leisure, Sports Direct has decided not to proceed with an offer for Blacks Leisure. Full Article
Sports Direct International Plc Reaffirms FY 2012 EBITDA Guidance
Sports Direct International Plc confirmed that the Group is confident of reaching the fiscal 2012 targeted underlying EBITDA of GBP215 million (before the charge for the bonus share scheme). Based on current trading, the Board remains of this view. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of GBP213 million for fiscal 2012. Full Article
REFILE-Sports Direct to shutter 20 Republic stores-report
June 6 - Sporting goods retailer Sports Direct said it would shutter 20 of its newly acquired Republic stores unless landlords Intu Properties and Land Securities Group agreed to lower rent prices, Britain's Daily Telegraph reported on Thursday.
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