Kering sells 5.9% of Puma shares for €805 million

Thursday, 27. May 2021 08:49

Kering S.A. revealed on Thursday it sold a 5.9% stake in German sportswear manufacturer Puma SE for around €805 million, or €90.3 per Puma share.

The French luxury group's stake in Puma thus decreased to 4%.

"The proceeds of this transaction will be used for the general corporate purposes of Kering and will further strengthen its financial structure," the French company noted in a statement.

Related Links: Puma SEKering S.A.
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Breaking the News / MS