Everysport Group divests shares in subsidiaries
Everysport Group AB (publ) ("Everysport" or the "Company") has today entered into an agreement with PAC Group AB (hereinafter "the buyer") regarding the divestment of the company's share of 20 percent in the subsidiaries Every Padel i Västerås AB and Grundbulten 119146 AB (under name change to Padel i Kopparlunden Västerås AB) (hereinafter "the subsidiaries"). The purchase price for Everysport's share amounts to a total of SEK 0.9 million, of which approximately half is paid in cash on the closing date July 7, 2023. The remaining purchase price is paid on three occasions on the last day of June 2024, 2025 and 2026.
"The transaction enables us to continue to invest and develop our subscription-based core business and focus on our growth journey. We are taking big steps in the right direction and also progressing with the review of Every Padel by optimizing the remaining fixed assets," says Hannes Andersson, CEO, Everysport Group.
Background and rationale
On March 30, 2023, Everysport announced the divestment of 80 percent of the shares in the subsidiaries to Sportinstitutet i Uppsala AB. The parties are now jointly divesting the subsidiaries to a third party. The divestment of the subsidiaries is part of the continued optimization of the remaining fixed assets within Every Padel.
The transaction
The transaction means that Everysport divests its entire remaining ownership of 20 percent in the subsidiaries Every Padel i Västerås AB and Grundbulten 119146 AB (under name change to Padel i Kopparlunden Västerås AB) to PAC Group AB. The divestment includes the facilities Every Padel: Hälla and Kopparlunden.
Purchase price
The purchase price for Everysport's share amounts to a total of SEK 0.9 million, of which approximately half is paid in cash on the closing date July 7, 2023. The remaining purchase price is paid on three occasions on the last day of June 2024, 2025 and 2026.
Any questions answered by:
Hannes Andersson, CEO, Everysport Group AB, tel: +46 70 736 56 25
e-mail: hannes.andersson@everysport.com
About Everysport Group
Everysport Group AB (publ) is a group operating in sports. Everysport is divided into two business areas: Everysport Media and Every Padel. Everysport Media owns and develops digital platforms and services in sports, and the Every Padel business area operates in the fast-growing sport of padel. The group has a total of about 130 employees. The head office is located in Stockholm, and the company also has offices in Norway and the US. The group is listed on the Spotlight Stock Market (EVERY).