France-based retail and luxury goods company PPR has entered into an agreement, through its subsidiary Sapardis, with Mayfair  Beteiligungsfondsgesellschaft I mbH to acquire its 27.1% stake in German sports brand Puma for €330 per share in cash excluding the 2006 dividend of €2.5 per share, implying a total consideration of €1.4 billion. Following this acquisition, PPR intends to launch a friendly takeover offer in cash on the remaining outstanding Puma shares at the same price of €330 per share.

Share this story: