Youngone tightens grip on Scott Sports after ICC ruling

Youngone Corp. has increased its stake in Swiss bicycle maker Scott Sports, bringing its ownership to near full control following an arbitration ruling. In a regulatory filing on Thursday, the Korean apparel group stated that it now holds 12,088,750 shares, representing 96.71 percent of Scott’s outstanding shares. The additional stake was acquired from former second-largest shareholder Beat Zaugg under a decision by the International Chamber of Commerce arbitration panel. Under the ruling, Young