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Adidas drops plan to sell ice hockey business as talks fail
March 7, 2013 / 10:39 AM / 5 years ago

Adidas drops plan to sell ice hockey business as talks fail

HERZOGENAURACH, Germany (Reuters) - Adidas AG (ADSGn.DE) has dropped the plan to sell its hockey business as potential buyers did not make offers interesting enough for the German sports apparel company, Chief Executive Herbert Hainer said on Thursday.

The Adidas logo is pictured on a shirt during the company's annual news conference in Herzogenaurach March 7, 2013. Adidas, the world's second largest sports apparel firm, reported an unexpected loss in the fourth quarter due to writedowns linked to the weak performance of its struggling Reebok brand in the United States and Latin America. REUTERS/Michael Dalder

Hainer had said in November that Adidas had been approached by several parties interested in buying the ice hockey business. <ID:L5E8M8IAI>

The ice hockey business suffered an 18 percent drop in sales in the fourth quarter of last year due to a month-long lockout at the National Hockey League as owners and players battled over a labor deal.

Adidas earlier reported fourth-quarter financial results.

Reporting by Joern Poltz; Writing by Maria Sheahan

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