Finance Notes: Three European Banks Increase Their Investments In Adidas
Adidas reports that three shareholders have surfaced from the limit of 5% "where ownership of shares and corresponding voting rights have to be publicized." Frankfurt-based Commerzbank "raised its voting rights" to 7.90%. Sweden’s Skandinaviska Enskilda Banken (SEB) and its German subsidiary increased their voting rights to 7.35%. Paris-based Société Générale lifted its voting rights to a share of 5.12% (ISPO, 5/14). ... Lagardére SCA experienced strong first-quarter business growth, setting the stage for the Lagardére group to report 2.3% growth in its "net sales on a like-for-like basis." Lagardére Unlimited recorded net sales of €110M ($142.7M), up 8.3% on a reported basis and up 4.5% on a like-for-like basis, "due primarily to the timely good performance in TV rights activities (the Africa Cup of Nations notably) and to the good contribution from football club marketing activities in Germany" (WALL STREET JOURNAL, 5/14).