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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Adidas AG | TG:ADS | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.90 | 1.72% | 230.60 | 230.10 | 231.10 | 230.90 | 224.90 | 227.30 | 8,704 | 22:50:03 |
From Apr 2021 to Apr 2024
By Joshua Kirby
Adidas AG is to sell Reebok to Authentic Brands Group for up to 2.1 billion euro ($2.47 billion), the German sporting-goods company said Thursday, putting an end to months of speculation over potential buyers for the brand.
The sale to the New York-listed brand-management company is expected to go ahead in the first quarter of next year, Adidas said. The majority of the transaction will be paid in cash upfront, with the remainder is made up of deferred and contingent fees. The price is significantly higher than had been estimated by many media observers and analysts.
Adidas said earlier this year that it would sell Reebok, which it bought in 2006 for around $3.8 billion. The sale, which is subject to customary conditions, has no impact on Adidas's existing guidance for the full year, the company said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
August 12, 2021 11:46 ET (15:46 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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