Wanda Sports Group has announced it has entered into a definitive stock purchase agreement to sell its Ironman business to Advance Publications, the American media company that owns Condé Nast and holds a significant shareholding in Discovery.
The all-cash transaction values the triathlon business, which is comprised of a global portfolio of mass participation sports events across triathlon, running, trail running, cycling and mountain biking, at $730m (€667m/£610m).
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