Luxury > Luxury

Kering sells further 5.9 percent in Puma

4 monthes ago   |   By Fashion United

Image: Puma
French luxury group Kering has sold an almost 6 percent stake in Puma as it continues to wind down its investment in the German sportswear category.
Kering announced Thursday “the launch of the sell-down of approximately 8.9 million shares that it owns in Puma SE, representing approximately 5.9 percent of the share capital of Puma, through a placement to qualified investors only”.
Based on the Puma share price at the close of the Frankfurt Stock Exchange on Wednesday, the transaction would represent an amount of more than 830 million euros.
Following the placement, Kering said...
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Kering Announces Plans to Sell More PUMA Shares

Kering Announces Plans to Sell More PUMA Shares

4 monthes ago   |   By Hypebeast

Kering is set to continue reducing its stake in PUMA , selling another portion of shares as it further switches its focus to the luxury market. The latest move will see Kering sell 8.9 million shares - representing around 5.9% of PUMA - valued at around €833 million EUR. Selling this tranche of shares continues Kering's strategy since 2018, when the French conglomerate announced that it would begin scaling down its stake in PUMA. This was followed by another sale last year , which also saw a 5.9% stake sold. Once the latest sale is completed, Kering will own just 4% of PUMA. The decision...
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