A boy wearing Nike shoes in a 17th century painting?/The National Gallery, London
Retailers, which owns Fox, reports this morning that it has signed a memorandum of understanding for the purchase of 12 Nike stores in France, according to a value of 45 million euros.
The company estimates that it will enter into a binding agreement by the end of the second quarter of the year in accordance with the existence of conditional conditions that include, among other things, approvals from lessors and Nike's consent. The agreement is made on the basis of zero net debt (Cash Free - Debt Free), and normative working capital as will be defined in the binding agreement, as well as a mechanism for future compensation conditional on goals.
This deal comes after Wiesel bought Nike Australia and New Zealand in February this year, and is now targeting the brand's stores in France.
In February of this year, Wiesel purchased a series of Nike stores in Australia and New Zealand. Retailers then reported that agreements were signed for the acquisition of ownership in the RPG chain, which operates 33 Nike stores in Australia and 7 Nike stores in New Zealand, 11 Samsung stores in Australia, as well as an online trade site for the sale of toy products from the toy giant Mattel. The company employs about 1,105 people.
Upon completion of the transaction, Retailers will pay the chain 50 million dollars and will own 92.5% of the Australian company (through a Dutch subsidiary) and the minority shareholders will own 7.5% of it.
In Israel, Wiesel owns, among others, the Fox networks, which include Fox, Fox Man, Kid and Baby, Fox Home, Shilav, Lalin, the Terminal X shopping site. The group is the franchise owner and store owner of a number of international brands including Mango, American Eagle, Billabong, Flying Tiger, Foot Locker, Adidas and Nike.