On January 4, 2022, Dorel Industries Inc. completed the sale of Dorel Sports, its bicycle segment, to Pon Holdings B.V., a Dutch mobility group, for US $810 million, representing approximately CAD $1.03 billion. At closing, Dorel received net proceeds from the sale of approximately US $735 million, which Dorel will use for payment of a special dividend of US $12.00 per share, thereby returning approximately US $390 million to Dorel’s shareholders, and to reduce indebtedness. The transaction consisted of the sale by Dorel of 100% of the shares of its indirect wholly-owned subsidiary companies comprising Dorel Sports as well as certain related assets.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating two distinct businesses in juvenile products and home products. Dorel employs approximately 6,600 people in facilities located in 22 countries worldwide.
Fasken, with a team led by Neil Wiener and Simon Bisson and including Tony Di Domenico and Chris Margison (competition) and Angela Onesi, Svetlana Samochkine and Marwan El-Sayegh (banking), acted as legal counsel to Dorel Industries in connection with the sale of the Sports segment.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating two distinct businesses in juvenile products and home products. Dorel employs approximately 6,600 people in facilities located in 22 countries worldwide.
Fasken, with a team led by Neil Wiener and Simon Bisson and including Tony Di Domenico and Chris Margison (competition) and Angela Onesi, Svetlana Samochkine and Marwan El-Sayegh (banking), acted as legal counsel to Dorel Industries in connection with the sale of the Sports segment.
Jurisdiction
- Québec
