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