Spain’s markets and competition regulator (the CNMC) has approved Advance Publication’s US$730 million deal to acquire Ironman from the Wanda Sports Group.
The regulator had examined the two companies’ activities in Spain to see if the deal would pose a threat to competition in the markets where they operate.
Ironman parent company World Endurance Holdings runs a host of mass participation events in Spain, including Ironman triathlon and half distance Ironman 70.3 events in cities including Barcelona and Marbella, as well as the Madrid Marathon.
American media conglomerate Advance owns publisher Condé Nast and a significant shareholding in Discovery, parent company to the Eurosport channel.
Its activities in Spain include the publication of digital magazines, digital marketing services, the production of musical shows, supplying analytical intelligence data on sports and electronic games, and marketing educational software.
A statement from the regulator said, “The CNMC does not consider that this concentration could pose a threat to competition in the affected markets, given that there is no horizontal or vertical overlap between the activities of both parties, nor is it expected that there will be a significant conglomerate effect.”
Ironman’s sale to Advance Publications, first announced in March, is now expected to close this month, subject to regulatory approval.
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