PPR, the French luxury group, has secured a majority stake in the German sporting goods company Puma. PPR’s bid of 330 euros a share, which valued Puma at 5.3 billion euros ($7.3 billion), landed it 62.1 percent of the sneaker maker.
TheDeal.com noted that PPR in April picked up 27.1 percent of Puma from a Mayfair GmbH buyout firm controlled by German coffee and cigarette moguls Gunter and Daniela Herz. Following that, the French company began an agreed offer for the remaining stock, although it said at the time that it would be happy as a minority shareholder.
Comments are no longer being accepted.