Exclusive: SIGNA Sports United in talks to go public through SPAC deal - sources
FRANKFURT - Sporting goods retailer SIGNA Sports United, owned by Austrian investor Rene Benko, is in talks to go public through a merger with a blank check company in a deal that could value the firm at up to $4 billion, two people familiar with the matter said.
SIGNA Sports United is working with several banks, including Citi, on a potential transaction and is in preliminary talks with special purpose acquisition companies (SPAC), including Yucaipa Acquisition Corp, the people said.
SIGNA Sports United is also nearing a deal to buy Britain-based online sporting goods store Wiggle, which is owned by private equity firm Bridgepoint, the people said.
No agreements have been reached and there is no guarantee that deals will materialise, they added.
SIGNA and Wiggle declined to comment.
Citi and Yucaipa were not immediately available for comment.
(Reporting by Arno Schuetze, Christoph Steitz and Matthias Inverardi, editing by Kirsti Knolle)