BEIJING: Wanda Sports Group Company Limited Thursday announced that it has entered into a definitive stock purchase agreement with Advance Publications Inc., owner of media company Conde Nast, to sell The IRONMAN Group in an all cash transaction at an enterprise value of $730 million (subject to customary purchase price adjustments).
Wanda Sports Group's US-listed shares soared 61% in premarket trade following the announcement of the sale to the private, family-owned business.