The EU competition authorities have given the green light to Amer Sports
Corporation's purchase of the Salomon winter sports business from sports giant adidas-Salomon AG.

The transaction, which has already been approved by the US competition authorities, is expected to be completed within the next week.

Salomon's business includes the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx, and Cliché.

The transaction value of the business is expected to be about €485 million based on year-end 2004 figures.
 
Amer Sports and adidas will cooperate for a maximum period of three years to ensure smooth transition of the businesses.

Roger Talermo, Amer president and chief executive officer, said: "Salomon's product offering fits perfectly with our business model and improves the position of our brands".

Adidas is currently in the process of buying competitor Reebok in a move that will lift its share in the sports goods sector further toward that of market leader Nike.