Amer Sports Corp – owner of brands such as Mavic, Salomon and Suunto – has confirmed in a stock exchange announcement that Novator Finland Oy has sold its entire holding of shares in the company.
Novator Finland Oy held 20.11% of the shares and voting rights in Amer Sports Corp.
According to a Reuters report, Icelandic investment firm Novator sold its 20.11% stake in Amer Sports to institutional investors today, at around a 15% discount to yesterday’s closing share price.
The disposal by Novator comes after Amer Sports noted that its ‘full-year outlook is clouded by uncertainty in consumer demand in general.’
However, the company recently reorganised its management model – creating a single group-wide Amer Sports management team to strengthen the development of corporate strategy across all business areas and regions.
Amer Sports publishes its Q2 results on 6 August 2009.
