Forbes.com is reporting this morning that Germany's Cartel Office has approved plans by Gunter and Daniela Herz to take a majority stake in Puma. The billionaire siblings have been the biggest shareholders in the German sportswear company, holding a 16.91% stake since early May, but 9.78% of that stake was subject to regulatory approval.
The two had increased their stake in Puma through their Mayfair Vermogensverwaltung investment firm.
Forbes said the siblings' new business interest follows a nasty breakup of Tchibo Holding, their family's consumer products company, after the they sold thier interest in that company to their mother and siblings Joachim, Michael and Wolfgang Herz for an estimated $5 billion in August 2003. Formes pointed to the irony in the fact that Puma was born of another German family feud between Rudi and Adi Dassler…
