Kering takes its Puma shareholding below 10% and raises €650m
08/10/2020
Luxury group Kering has completed the sale of almost 9 million shares in sports brand Puma. It said this exercise had generated more than €650 million, which it intends to use to strengthen its financial structure and for “general corporate purposes”.
This divestiture is of 5.9% of the total share capital of Puma and takes Kering’s holding to 9.8% of the total.
Until 2018, Kering was the majority shareholder in Puma.
Image: Robert Ascroft/Puma
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