Preview - Please log in to view full article.

Article Date: January 2017
Word Count: 307

PSG Asks Court for Pre-Auction Reorganization


The filing asks a DE bankruptcy court to approve a number of transactions that Performance Sports Group says are necessary to avoid a potential $10 million tax liability in Canada as a result of the sale process. The proposed relief would essentially consolidate a number of subsidiaries, clean up various intra-company loans that were made during its acquisition spree and allow for the repatriation of cash from its European subsidiary.

 

An auction is scheduled for Jan. 30 with Sagard Capital’s $575 million bid as the stalking horse bid, but sources tell us that former chairman Graeme Roustan is definitely preparing to ... Log in to view full article.

 


Already a subscriber?

User Name:  

Password:  


Not yet a subscriber?

Try SGI for a month FREE. You’ll get our daily news feed, weekly newsletter, and access to the last two months of SGI articles.

Start a new subscription to SGI, or order any of our other products.