Wuhan Double Co., Ltd. plans to acquire a 100% stake in Nice International Sports Ltd., a European sports agency, for €39.5m.
According to Wuhan Double, this purchase could foster cooperation in the transfer of sports personnel to meet the demands of high-level athletes. This deal is the latest example of a Chinese company pursuing M&A overseas in the hope of providing better services and tapping into the European sports marketing industry.
Wuhan Double was founded in 1992 and is focused on investing and consulting the in film and television , sports, media, animation and video game sectors.
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