Wanda Sports: received $2.50 per ads cash acquisition agreement

category:Finance
 Wanda Sports: received $2.50 per ads cash acquisition agreement


The board of directors of Wanda sports group plans to evaluate the proposed transaction and cautions holders of ordinary class A shares, holders of ADSS and others considering buying and selling ADSS that the board has just received a proposal and has not had the opportunity to review and evaluate the offer carefully or make any decision on Wanda Sports Groups response to the offer. There is no guarantee that any final offer will be made or that this or any other transaction involving Wanda sports group will be approved or completed. Wanda sports group has no obligation to provide any up-to-date information about this transaction or any other transaction unless otherwise required by applicable law.

Wanda sports was incorporated in Hong Kong in November 2018 and listed on NASDAQ on July 26, 2019.

Wanda sports said novel coronavirus pneumonia epidemic was the main reason for the decline in revenue. Wanda sports did not hold mass participation in the second quarter, resulting in a decline in revenue.

Wanda sports revenue comes from three major businesses, namely, public participation sports business, ornamental sports business and digital media production and solutions (DPSS). According to the financial report, in the second quarter, the revenue of Wanda sports public participation department was 300000 euro, a year-on-year decrease of 98%; the revenue of ornamental sports department was 38.4 million euro, a year-on-year decrease of 72%; the revenue of digital, production and sports solutions department was 13.1 million euro, a year-on-year decrease of 76%.