Luxury goods retailer PPR emerges with 33.2% stake in Puma

28 Jun '07

2 min read

At the end of the initial acceptance period of PPR's offer for Puma, the PPR group stated that it now holds a 33.2% stake (i.e. 5,321,764 shares) in Puma.

François-Henri Pinault, Chairman and CEO of PPR and Chairman of the Supervisory Board of Puma, stated: “We are satisfied with this result which strengthens our controlling position in Puma. PPR confirms its long-term commitment to this group. The additional acceptance period for the offer opens tomorrow and provides shareholders with a final opportunity to tender Puma shares at 330 euros per share.”

The additional acceptance period starts on 28 June and ends on 11 July 2007. It provides Puma shareholders with a final opportunity to accept PPR's offer by tendering their Puma shares at 330 euros per share.

The final results of the offer will be announced on 17 July 2007.

PPR is a global player in Retail and Luxury Goods, with approximately 78,000 employees in 75 countries. Through its Retail businesses Redcats Group, Fnac, Conforama and CFAO, and the Luxury brands of Gucci Group (Gucci, Bottega Veneta, Yves Saint Laurent, YSL Beauté, Balenciaga, Boucheron, Sergio Rossi, BEDAT & CO, Alexander McQueen and Stella McCartney), PPR generated sales of EUR 17.9 billion in 2006.

PPR Group

More Kering News... More Fashion News - France...