Puma Potentially On The Block, With Feelers Being Put Out To Middle East, Asia

Puma's controlling shareholder Kering has "explored a sale of the German sportswear maker as efforts to revive the brand drag into a fifth year," according to sources cited by Kirchfeld, Nair & David of BLOOMBERG. The sources said that the Paris-based Kering "contacted potential buyers earlier this year to gauge interest," including sovereign-wealth funds from the Middle East and investors from Asia. But the discussions "have yet to lead to any sort of takeover proposal and it remains unclear whether the company will still pursue a sale of the brand." Kering owns about 86% of Puma, having "acquired control of the sporting-goods maker" in '07. Puma, which has a market valuation of about $3.1B, is "revamping athletic shoes and stepping up marketing as it seeks to reorient the company's positioning around performance gear" (BLOOMBERG, 12/16).