January 11, 2018 / 4:51 PM / 3 months ago

Exclusive: Kering evaluating Puma options including spin to shareholders - sources

FRANKFURT/LONDON (Reuters) - French luxury goods group Kering is evaluating options for its German sports goods brand Puma, including a spin-off of Puma to its own shareholders, two people close to the matter said.

FILE PHOTO: The logo of Kering is seen in Paris, France, February 19, 2016. REUTERS/Charles Platiau/File Photo

“A spin is the preferred solution,” one of the people said, adding that the move may come very soon. “They are in active talks.”

Kering is working with an advisor on the deal, the person said, while another source said that a Puma spin has long been discussed by Kering.

Kering, which is controlled by the French Pinault family, owns 85 percent of Puma.

A spin-off would see this Puma stake distributed among Kering’s shareholders, giving the Pinault family a direct stake in the sporting goods company.

Kering and Artemis - the Pinault family’s investment vehicle - did not respond to request for comment, while Puma declined to comment.

FILE PHOTO: Boards with Puma store logo are seen on a shopping center at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. REUTERS/Grigory Dukor/File Photo

Additional reporting by Alexander Hübner and Sarah White, editing by Emma Thomasson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below