May 10, 2018 / 10:10 AM / 4 months ago

BRIEF-Canadian Tire Corp To Buy Helly Hansen For $985 Million

May 10 (Reuters) - Canadian Tire Corporation Ltd:

* CANADIAN TIRE CORPORATION ANNOUNCES AGREEMENT TO ACQUIRE HELLY HANSEN

* CANADIAN TIRE CORPORATION LTD - DEAL FOR $985 MILLION

* CANADIAN TIRE CORPORATION LTD - TRANSACTION IS NOT SUBJECT TO FINANCING CONDITIONS

* CANADIAN TIRE CORPORATION LTD - DEAL IMMEDIATELY ACCRETIVE TO CTC WITH STRONG REVENUE AND EBITDA GROWTH TRAJECTORY

* CANADIAN TIRE CORPORATION LTD - DEAL ALSO INCLUDES ASSUMTION OF APPROXIMATELY $50 MILLION OF OPERATING DEBT, NET OF CASH

* CANADIAN TIRE CORPORATION - EXPECTS TO COMPLETE PREVIOUSLY ANNOUNCED SHARE REPURCHASE PROGRAM IN 2018

* CANADIAN TIRE CORP - DEAL TO PURCHASE CO, CONTROLLED BY ONTARIO TEACHERS’ PENSION PLAN, WHICH OWNS, OPERATES HELLY HANSEN BRANDS, RELATED BUSINESSES

* CANADIAN TIRE CORPORATION - HELLY HANSEN CEO PAUL STONEHAM AND MANAGEMENT TEAM WILL CONTINUE TO LEAD HELLY HANSEN Source text for Eikon: Further company coverage:

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