Youngone Holdings, a Korean apparel maker, has acquired an additional 46.7% stake in Scott Corp, the Swiss-based parent of SCOTT Sports, for about CHF 19.1m (USD 24m).
A call option was exercised to purchase the stake from former SCOTT Sports CEO Beat Zaugg, and the deal price was determined through arbitration by the International Chamber of Commerce on 12 November, according to the regulatory filing.
While the transaction was completed on 17 December, the final deal price is subject to change pending results of remaining arbitration proceedings.
Youngone filed a claim with the ICC against Beat Zaugg for breaching its shareholders’ agreement on 19 September 2022, while Beat Zaugg filed a counterclaim on 5 April 2023, the filing noted.
Youngone now holds about 96.71% of Scott’s total issued shares.
