Board of management & supervisory board support take-over offer by PPR
26 May '07
3 min read
• Through the combination with PPR, the PUMA Group does not only secure the support of a financially solid international group, but also profits from the global orientation of PPR Group, its comprehensive portfolio in the premium brand segment and PPR's know-how and its numerous resources in the areas of international products, sales, multi-brand management, design and procurement.
• The Managing Board and the Supervisory Board are of the opinion that both groups complement each other very well with respect to their orientation and strategy and that PPR Group, being one of the internationally leading groups in fashion and trade, is an ideal partner for PUMA AG.
Therefore, the Managing Board and the Supervisory Board are of the opinion that the completion of the Offer is in the best interest of PUMA AG and the PUMA Group.
• The Bidder has declared that PPR does not plan any staff reduction at PUMA AG as a consequence of its acquisition of control over the Company and that PPR does not intend to endeavour to procure any material changes to the terms and conditions of employment of PUMA AG and the current employee representation and employee structure at PUMA AG.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
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