Wanda Sports: received $2.50 per ads cash acquisition agreement

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


According to the offer documents, the purchaser plans to use equity investment or loans provided by its affiliated companies or other parties to finance the consideration to be paid in the proposed transaction. The acquirer also said it was open to considering alternative trading structures, including Wanda Sports Groups acquisition of class a common shares and American Depository shares at the same price.

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%. In addition, due to the impact of public health events, Wanda sports did not give performance guidelines for the third quarter and the whole year of 2020. Source: surging news editor: Yang Bin_ NF4368

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%.

In addition, due to the impact of public health events, Wanda sports did not give performance guidelines for the third quarter and the whole year of 2020.