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PPR holds 62.1% of PUMA at end of successful offer process
27 Jul '07
2 min read
The PPR group is pleased to announce that after the expiry of the additional acceptance period of its voluntary public takeover offer for PUMA it has become the majority shareholder with a 62.1% stake in PUMA.
François-Henri Pinault, Chairman and CEO of PPR and Chairman of the Supervisory Board of PUMA, stated: “We are very pleased with the final result of our offer to the PUMA shareholders who have sent a strong signal of support for the transaction. We are at the starting point of a fruitful collaboration and will now focus on implementing our long term strategic vision.”
On 10 April 2007 PPR acquired a controlling stake in PUMA and announced the launch of a friendly voluntary public takeover offer at a price of EUR 330 per share. The voluntary public takeover offer to the other PUMA shareholders started on 14 May 2007 and the additional acceptance period expired on 11 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 shares are listed on Euronext Paris.
François-Henri Pinault, Chairman and CEO of PPR and Chairman of the Supervisory Board of PUMA, stated: “We are very pleased with the final result of our offer to the PUMA shareholders who have sent a strong signal of support for the transaction. We are at the starting point of a fruitful collaboration and will now focus on implementing our long term strategic vision.”
On 10 April 2007 PPR acquired a controlling stake in PUMA and announced the launch of a friendly voluntary public takeover offer at a price of EUR 330 per share. The voluntary public takeover offer to the other PUMA shareholders started on 14 May 2007 and the additional acceptance period expired on 11 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 shares are listed on Euronext Paris.
The PPR group
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