Kering sells Puma stock to strengthen balance sheet

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By Aidan Gregory
06 Oct 2020

Kering, the French luxury goods giant, has offloaded a €687m chunk of its stake in German sportswear company Puma, via an accelerated bookbuild.

Launched after the market close in Frankfurt on Monday evening, following a pre-sounding exercise by the leads, the sale consisted of 8.8m shares, a 5.8% stake in Puma.

Bank of America Securities and HSBC were bookrunners.

It took less than half an hour for the transaction to get ...

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