Australian private equity manager Archer Capital is selling sporting goods retailer Rebel Group for $630 million, The Wall Street Journal reports. Australian retail corporation Super Retail Group will be the new owner of the retailer.
The acquisition, which will comprise 90 Rebel Sport, 36 Amart and two Performance Sports stores, will be financed partially through the sale of new Super Retail ordinary shares at an offer price of $5.408 per unit to raise approximately $338.2 million. The transaction is expected to close in 2012.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from The Australian.