With no new bids, Performance Sports to sell assets to Sagard, Fairfax: Reuters
Performance Sports Group Ltd said it would seek approval from a U.S. bankruptcy court for the sale of its assets to Power Corp's Sagard Capital Partners LP and Fairfax Financial Holdings Ltd, after it failed to attract other bids, Reuters reported. Sagard, Performance's biggest shareholder, and Fairfax had agreed in October to act as "stalking horse" bidders to buy most of the Bauer ice hockey gear maker's assets and its North American units for US$575 million. The former chairman of Performance was in talks with U.S. and Canadian private equity firms about submitting a bid for the company.
26 January 2017•2 mins read
