Wanda Sports: sale of The Ironman Group to the family-owned holding company Advance for €665m

News Tank Football - Paris - News #179284 - Published on 31/03/20 at 10:55

Wanda Sports Group has signed "a definitive stock purchase agreement" with the family-owned holding company Advance, to sell The Ironman Group as part of a transaction that values the company, which specialises in events for the general public such as triathlons, running and mountain biking, at $730m (€665m), announced the subsidiary of Dalian Wanda Group (tourism, hotels, entertainment) on 26/03/2020.

"In China, Wanda Sports Group has a combination of an existing portfolio of city marathons, such as the Chengdu Marathon and Shenyang International Marathon and will continue to operate events in China under an exclusive license agreement," explained the Chinese conglomerate that has combined its two assets, Infront Sports & Media and WTC (World Triathlon Corporation), which owns the Ironman brand, into a new entity, Wanda Sports.

Advance1/1 ©  Advance
Advance
  • Sector: Newhouse family investment holding company
    • …


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