TORONTO, Oct. 27, 2016 /CNW/ - Brookfield Capital Partners Ltd. ("BCP") announced that BCP and Sagard Capital Partners, L.P. ("Sagard Capital") have entered into a confidentiality agreement (the "NDA") relating to Performance Sports Group Ltd. (the "Issuer"). The NDA has the effect of modifying previously disclosed plans or future intentions of BCP and 251091708 Delaware LP (a Delaware limited partnership indirectly controlled by BCP which owns 13.23% of the currently outstanding common shares of the Issuer) with respect to the Issuer.
Pursuant to the terms of the NDA, Sagard Capital, BCP and their respective representatives have discussed the possibility of Sagard Capital and BCP, acting together with respect to potential plans or proposals that may involve one or more of the following related to the Issuer (each, a "Potential Transaction"): restructurings; possible issuances by the Issuer of additional and/or refinancing indebtedness; the acquisition of indebtedness of the Issuer or its subsidiaries; and/or other strategic alternatives.
Sagard Capital and BCP have not yet entered into any agreements, term sheets, or other arrangements among themselves with respect to any joint activity. However, based on discussions to date, BCP has concluded that it is likely that, if BCP proceeds with a plan or proposal to effect any Potential Transaction, BCP will proceed with Sagard Capital.
Notwithstanding the foregoing, it is uncertain whether Sagard Capital and BCP, and/or an entity formed by them, on the one hand, and the Issuer, on the other hand, will agree to any definitive agreement with respect to any Potential Transaction, or that any Potential Transaction will occur. Further, there can be no assurance that Sagard Capital and BCP will reach an agreement on, or submit a plan or proposal with respect to, any Potential Transaction, or that a Potential Transaction will occur. Nothing contained in this press release be deemed to constitute an offer to sell or purchase or the solicitation of an offer to sell or purchase any securities, nor will there be any purchase or sale of any securities in any province, country, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, country, state or jurisdiction.
BCP further discloses that it continues to beneficially own and control, through 251091708 Delaware LP, an aggregate of 6,026,860 common shares of the Issuer ("Shares"), representing approximately 13.23% of the issued and outstanding Shares.
The Issuer's head office is located at 100 Domain Drive, Exeter, New Hampshire, U.S.A., 03833.
The business address of BCP and 251091708 Delaware LP is located at Brookfield Place, 181 Bay Street, Suite 300, Toronto, Ontario, M5J 2T3.
A copy of the early warning report required to be filed under applicable Canadian securities laws will appear with the Company's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
SOURCE 251091708 Delaware LP
For further information: or to obtain a copy of the related early warning report, please contact: Jennifer Ritchie, Tel: (416) 956-5230, Email: firstname.lastname@example.org