SAPARDIS S.A., the subsidiary of French luxury goods company PPR S.A. that has been in talks to acquire a majority stake in PUMA AG, has closed its takeover offer. PPR now owns, through its subsidiary, a total of 62.1% of all PUMA votes.
PPR first began its acquisition of PUMA in April when it acquired the 27.1% Mayfair GmbH stake. Following its acquisition of that stake, PPR made an offer of 330 per share for the remaining PUMA shares in May with a majority of shareholders accepting.
SAPARDIS S.A., the subsidiary of French luxury goods company PPR S.A. that has been in talks to acquire a majority stake in PUMA AG, has closed its takeover offer, now owning a total of 62.1% of all PUMA votes. PPR first began its acquisition of PUMA in April when it acquired the 27.1% Mayfair GmbH stake. PPR followed that acquisition with an offer of 330 per share for the remaining PUMA shares in May.
Jochen Zeitz, CEO and chairman of PUMA AG, said, “We are pleased that the PUMA shareholders have with their vote supported the junction of PUMA with the PPR group and set the basis for a successful cooperation. With the support of PPR we will use the large potential of our brand and the emerging possibilities on a long-term basis and will invest into brand-building, enabling us to further strengthen our position as the leading company in the Sportlifestyle market.”
