Amer Sports, the parent company of Salomon, Bonfire, and Atomic, just lost one of its larger investors as Novator Finland Oy announced today that it sold its entire 20 percent stake in the company to “institutional investors” at a 15 percent discount vs. Wednesday’s closing price, according to a story on Reuters.
Amer Sports shares were 15.4 percent lower at 7.02 euros 0718 GMT. . . Novator sold its 14.7 million shares at 7 euros each through SEB Enskilda.
Doesn’t exactly sound like a confidence building revelation.
[Link: Reuters]
