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    Home»Deals»SIGNA Sports United in talks to go public through SPAC deal
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    SIGNA Sports United in talks to go public through SPAC deal

    April 10, 20211 Min Read
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    Sporting goods retailer SIGNA Sports United, owned by Austrian investor Rene Benko, is in talks to go public through a merger with a blank check company in a deal that could value the firm at up to $4 billion, two people familiar with the matter said.

    SIGNA Sports United is working with several banks, including Citigroup Inc, on a potential transaction and is in preliminary talks with special purpose acquisition companies (SPAC), including Yucaipa Acquisition Corp, the people said.

    SIGNA Sports United is also nearing a deal to buy Britain-based online sporting goods store Wiggle, which is owned by private equity firm Bridgepoint, the people said.

    The company runs more than 80 web shops in 17 countries, reaching over 4 million customers a year. The group expects sales of about $1.6 billion in its current fiscal year to September, the people said, adding this could more than double over the next four years.

     

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    Source: Reuters

    Reporting by Arno Schuetze, Christoph Steitz and Matthias Inverardi; Editing by Kirsti Knolle and Jonathan Oatis

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