BEIJING, Oct. 23, 2020 /PRNewswire/ -- Wanda Sports Group
Company Limited (the "Company," and together with its
consolidated entities, "Wanda Sports Group") (NASDAQ: WSG),
a leading global sports events, media and marketing platform, today
announced that the independent board committee (the "Independent
Board Committee") of the Company's board of directors (the
"Board") has retained Houlihan
Lokey (China) Limited as
its independent financial advisor and Skadden, Arps, Slate, Meagher
& Flom LLP as its legal counsel. The Independent Board
Committee was formed to evaluate and consider the preliminary
non-binding proposal set out in a letter dated September 30, 2020 from Wanda Sports & Media (Hong Kong) Holding Co.
Limited (the "Proposal").
The Board and the Independent Board Committee caution the
Company's shareholders and others considering trading the Company's
securities that no decisions have been made with respect to the
Company's response to the Proposal. There can be no assurance that
any definitive offer will be made or that any transaction will be
launched or consummated. The Company does not undertake any
obligation to provide any updates with respect to any transaction,
except as required under applicable law.
About Wanda Sports Group
Wanda Sports Group is a leading global sports events, media
and marketing platform with a mission to unite people in sports and
enable athletes and fans to live their passions and dreams. Through
its businesses, Infront and Wanda Sports China, Wanda Sports
Group has significant intellectual property rights, long-term
relationships and broad execution capabilities, enabling it to
deliver inspiring sports event experiences, creating access to
engaging content and building inclusive communities. Wanda
Sports Group offers a comprehensive array of events, marketing
and media services through its three primary
segments: Spectator Sports, Digital, Production, Sports
Solutions (DPSS) and Mass Participation. Wanda Sport
Group's full-service platform creates value for its partners
and clients as well as other stakeholders in the sports ecosystem,
from rights owners, to brands and advertisers, and to fans and
athletes.
Headquartered in China, Wanda
Sports Group has more than 49 offices in 17 countries with over
1,100 employees around the world. For more information,
please visit http://investor.wsg.cn/investor-relations.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements include but are not limited
to, management quotes and the Company's financial outlook. These
forward-looking statements can be identified by terminology such as
"will," "estimate," "project," "predict," "believe," "expect,"
"anticipate," "intend," "potential," "plan," "goal" and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission ("SEC"), in its
annual report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Such statements involve certain risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements and, consequently, could be affected by the uncertain
and unprecedented impact of COVID-19 on the Company's business and
operations and the related impact on its liquidity needs. These
forward-looking statements include, but are not limited to,
statements about: the impact of the spread of COVID-19 and related
mitigation efforts on the Company's business, operations and
operating results; the Company's goals and strategies, including
following the completion of the sale of the IRONMAN Group; the
expected growth in the Company's industry; the Company's
expectations regarding its ability to attract rights-in partners
and monetize their rights through rights-out arrangements; changes
in consumer behavior and consumer and corporate spending, including
as a result of the COVID-19 crisis; the Company's ability to reach
acceptable levels of engagement with its athletes following the
COVID-19 crisis; the Company's future business development, results
of operations and financial condition; competition in the Company's
industry; general economic and business conditions, including as a
result of the COVID-19 crisis; the outcome of discussions with
rights owners and lenders to mitigate the impact of the effects of
COVID-19 on Wanda Sports Group; and assumptions underlying or
related to any of the foregoing as well as risks, uncertainties,
and other factors described in "Risk Factors" and elsewhere in the
Company's annual report on Form 20-F for the year
ended December 31, 2019, which is available on
the SEC's website at www.sec.gov. Additional
information will be made available in other filings that the
Company makes from time to time with the SEC.
In addition, any forward-looking statements contained in this
press release are based on assumptions that the Company's believes
to be reasonable as of this date. The Company undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date of this press release or to
reflect new information or the occurrence of unanticipated events,
except as required by law.
For investor inquiries, please contact:
Wanda Sports
Group
Edith Kwan
Tel: +86 (10) 8558 7456
E-mail: ir@wsg.cn
For media inquiries, please contact:
Christensen
Mainland China
Jin
Lu
+86 139 1022 3664
jinlu@christensenir.com
Hong Kong
Rene Vanguestaine
+852 6686 1376
rvanguestaine@christensenir.com
US
Tip
Fleming
+1 917 412 3333
tfleming@christensenir.com
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SOURCE Wanda Sports Group Company Limited