September 25, 2019 / 6:25 AM / 22 days ago

Luxury group Kering launches bonds that can be changed for Puma shares

PARIS, Sept 25 (Reuters) - French luxury goods group Kering said it was launching an offer of bonds that could be exchanged for shares in Puma, in which Kering already holds a 15.7% equity stake, to the tune of 500 million euros ($549.8 million).

Kering added in a statement on Wednesday that the initial exchange price would represent an exchange premium of 30%-35% over a reference share price for Puma. ($1 = 0.9095 euros) (Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

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