News Alerts
Headlines
Lagardere will not merge WSG into SPORTFIVE
France - 23 May, 2008
Adjust font size:
Lagardère Sports has acquired Singapore-based World Sport Group (WSG) but has no current plans to merge the agency with SPORTFIVE or ICE in Sport, the two other sport marketing agencies owned by the group.
Stéphane Schindler, Lagardère Sports' chief operating officer and general manager, wanted the deal done to increase his agency's profile in the Asian market. But he did not feel there was a pressing need to push WSG in with other acquisitions such as SPORTFIVE and IEC in Sports.
The recent deal will cost USD 125 million upfront for 70 percent of WSG's voting rights and capital. Another USD 25 million will be due over the next three years to finish the agreement.
Lagardère set a goal to increase the share of annual earnings before tax and interest generated from 10 percent to somewhere between the 20th and 30th percentile.
Stéphane Schindler, Lagardère Sports' chief operating officer and general manager, wanted the deal done to increase his agency's profile in the Asian market. But he did not feel there was a pressing need to push WSG in with other acquisitions such as SPORTFIVE and IEC in Sports.
The recent deal will cost USD 125 million upfront for 70 percent of WSG's voting rights and capital. Another USD 25 million will be due over the next three years to finish the agreement.
Lagardère set a goal to increase the share of annual earnings before tax and interest generated from 10 percent to somewhere between the 20th and 30th percentile.
Source: euFootball.BIZ © Copyright 2006 -
All rights reserved.
© Copyright message
The copying, republication, redistribution or web posting (including by framing or similar means) of this content is expressly prohibited without the prior written consent of euFootball.BIZ
-
Finance
Television
Sponsorship
Marketing
Technology
Competitions
Clubs
Stadia-Facilities
Legal
Administration
Events