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Article: Amer Sports shares rise after Sports Direct buys 4.9% stake in the company

Article from:
Deseret News (Salt Lake City)
Article date:
June 11, 2007
Author:
Copyright

Shares of Amer Sports Oyj, the maker of Wilson tennis rackets and Atomic skis, rose after Sports Direct International Plc, Britain's biggest sporting-goods retailer, bought a 4.9 percent stake in the Finnish company.

Amer shares rose 68 cents, or 4.1 percent, to close at 17.23 euros Friday in Helsinki. They have added 3.3 percent this year, less than the 10 percent gain by the OMX Helsinki 25 Index.

Sports Direct bought the stake Thursday, the second time founder Mike Ashley has invested in a sports-equipment maker this year. The stake in Helsinki-based Amer, which has operations in Ogden, cost 58.4 million euros ($78 million) and was funded with an existing ...

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