International Expansion Continues for Frasers Group

  • Frasers Group revives bid for Norwegian sports giant XXL ASA
  • Total stake increased to 32.9% of shares and 40.8% of voting A-shares
  • Initial bid abandoned in February 2025 due to lack of support from major shareholders
  • XXL operates over 85 stores across Norway, Sweden, and Finland
  • Frasers expands international presence with strategic partnership in Middle East and North Africa

Frasers Group, the British retail giant behind Sports Direct, has confirmed plans to make a mandatory offer for the remaining shares in Norwegian sportswear retailer XXL ASA after acquiring 21.6 million A-shares and an additional 77,289 A-shares through a rights issue. This brings its total stake to 32.9% of all shares and 40.8% of voting A-shares, surpassing the one-third ownership threshold under Norwegian securities law. The move comes after an initial bid in December 2024 to acquire over 50% of XXL at NOK 10 per share, valuing the company at NOK 246.35 million (£17 million. However, it was abandoned in February 2025 due to a lack of support from other major shareholders. XXL operates over 85 stores across Norway, Sweden, and Finland, specializing in sports and outdoor activities products. Frasers Group continues its international expansion efforts with a strategic partnership for Sports Direct stores in the Middle East and North Africa.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Frasers Group’s plans to acquire XXL ASA shares and its previous bid attempt, as well as details on XXL’s operations and the company’s specialization. It also mentions Frasers’ international expansion efforts. However, it lacks some context on the initial bid withdrawal reason and omits the final acquisition price.
Noise Level: 3
Noise Justification: The article provides relevant information about Frasers Group’s plans to acquire XXL ASA shares and its impact on Norwegian securities law, as well as mentioning the company’s specialization in sports and outdoor activities. It also briefly discusses Frasers’ international expansion efforts. However, it lacks analysis or exploration of long-term trends or consequences, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses Frasers Group’s plans to acquire remaining shares in Norwegian sportswear retailer XXL ASA, which impacts the company’s ownership structure and potentially affects its financial performance. Additionally, it mentions the valuation of XXL at NOK 246.35m (£17m) and Frasers Group’s international expansion efforts through a strategic partnership with GMG in the Middle East and North Africa.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:

Reported publicly: www.retailgazette.co.uk