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SBD/Issue 204/Finance
French Firm’s $7.3B Puma Bid Succeeds, Garnering 62% Stake
Published July 18, 2007
France-based PPR SA, which owns the Gucci brand, said that a $7.3B bid for Puma “succeeded after almost two-thirds of investors accepted its offer,” according to BLOOMBERG NEWS. PPR, which agreed in April to purchase a 27% stake in Puma, now owns a 62.1% stake in the company. Puma investors had five weeks until July 11 to tender their shares (BLOOMBERG NEWS, 7/18).
