Kering said the company has completed the spinoff of Puma.

The distribution ratio of Puma shares to Kering shareholders is equal to 1 Puma share for 12 Kering shares held, in accordance with the terms of the transaction announced by Kering on February 13, 2018. The Puma opening share price, which will be used in particular as a basis for tax calculation purposes, was €429.00 on May 16, 2018, on the Xetra trading platform at Frankfurt.

As previously announced, following this transaction, Kering will retain 15.70 percent of the share capital and 15.85 percent of the shares outstanding and voting rights of Puma. This stake will be accounted for under the equity method in Kering’s financial statements.

Kering’s brands include: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Christopher Kane, Tomas Maier, Boucheron, Pomellato, Dodo, Qeelin, Ulysse Nardin, Girard-Perregaux and Kering Eyewear.