Kering: sell-down of Puma capital
(CercleFinance.com) - Kering announces the sale, by way of an accelerated bookbuilding process, to qualified investors, of approximately 5.
9% of Puma's capital for a total amount of approximately 655.6 million euros, corresponding to a price of 74.50 euros per Puma share.
The clearing and settlement of the sale is set to go through on 8 October. Following this transaction, Kering will hold 9.8% of Puma's capital. The net proceeds will be allocated to the French luxury group's general needs and will serve to further strengthen its financial structure.
Kering and Artémis have consented to a lock-up agreement regarding Puma's shares, to end after a period of 90 calendar days from the date of clearing and settlement, subject to certain exceptions.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
9% of Puma's capital for a total amount of approximately 655.6 million euros, corresponding to a price of 74.50 euros per Puma share.
The clearing and settlement of the sale is set to go through on 8 October. Following this transaction, Kering will hold 9.8% of Puma's capital. The net proceeds will be allocated to the French luxury group's general needs and will serve to further strengthen its financial structure.
Kering and Artémis have consented to a lock-up agreement regarding Puma's shares, to end after a period of 90 calendar days from the date of clearing and settlement, subject to certain exceptions.
Copyright (c) 2020 CercleFinance.com. All rights reserved.