ANNECY, France - Amer Sports has completed its divestment of Mavic SAS. The Finnish sporting goods manufacturer has finalized the sale of its French bike subsidiary to private equity firm Regent LP.

HELSINKI, Finland - Amer Sports has published its financial 2018 report in which the company announced that it is now actively seeking for a potential buyer of its Cycling asset, consisting of Mavic (wheels, rims, tyres, apparel and foortwear) as well as Enve (wheels, hubs, bars, stems, posts and forks).

HELSINKI, Finland - It started with Amer Sports' announcement that it wants to sell its activities in the cycling market with Mavic and Enve on 5 September. Now it looks like the entire Finnish holding will be sold to the Chinese companies ANTA Sports Products and FountainVest Partners.

HELSINKI, Finland - Mavic and Enve no longer fit in Amer Sports' strategy to pursue sustainable, profitable growth. "We prioritize acceleration in soft goods, B2C, China, United States, and digitalization," said Amer Sports President and CEO Heikki Takala this morning while he announced the company's updated strategy.

HELSINKI, Finland - Amer Sports did not had a good first half of 2018 as its cycling activities through subsidiaries Mavic and ENVE saw a further deteriorating net sales after a disappointing 2017. Total sales of the Finnish sports group dropped slightly in the first half of 2018.

Amer Sports saw its sales in cycling products under the Mavic and Enve brands drop with over 10% last year. But the Finnish holding of numerous sporting