Super Retail to buy Rebel Sport for $610m

Super Retail Group has agreed to buy sports goods retailer Rebel Group for $610 million from private equity firm Archer Capital as the company seeks to expand in the leisure retail market.

Rebel is a market leader in the Australian sporting goods sector with 128 stores and about 24 per cent of market share, Super Retail said in a statement on Monday.

To fund the takeover, Super Retail will sell $334 million of new shares in a nine for 19 pro rata entitlement offer.
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The new shares will be sold at $5.34 each, an 18 per cent discount to Super Retail's last trading price of $6.50.

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