Hong Kong’s Jynwel Capital together with Abu Dhabi Funds is seeking to buy sports shoes and apparel maker Reebok from Germany’s Adidas AG, the Wall Street Journal reported on Monday, saying the offer is worth EUR1.7 billion (USD2.17b).
The investment firm of the third-generation Low family from Penang is expected to send a letter to Adidas on behalf of the investor group, detailing their offer to buy Reebok, the global financial daily said.
Jynwel Capital chief executive officer Jho Low and Abu Dhabi investors associated with the potential deal are expected to claim that it would be a positive move for the brand which Adidas snapped up eight years ago.
(Source: The Malaysian Insider)