Courts OK Performance Sports sale to Sagard-Fairfax for $575 mln

Courts in the United States and Canada have approved the sale of Performance Sports Group Ltd (PSG), a U.S. maker of sports equipment and apparel, to Sagard Capital Partners and Fairfax Financial Holdings. The deal, which includes "substantially all" of the company's assets and North American subsidiaries, is valued at US$575 million. It is expected to close before the end of February. Last month, PSG said it would seek court approval for the "stalking horse" asset-purchase agreement led by Power Corp's Sagard after new bids from private equity firms failed to materialize.

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