Kering announces the completion of the sale following an accelerated book building process to qualified investors only of approximately 5.9% of the share capital of Puma SE for a total amount of approximately US$981 million, corresponding to a selling price of US$110.1 per Puma share.
SEE ALSO : Kering announces financial results
Following this transaction, Kering will have a remaining stake of c.4.0% of Puma’s share capital.
Kering and Artémis will be subject to a lock-up relating to the Puma’s shares, which is expected to end after a period of 90 calendar days from the settlement date of the Shares, subject to certain exceptions or waiver by the joint global coordinators.
The proceeds of this transaction will be used for the general corporate purposes of Kering and will further strengthen its financial structure.
Settlement of the Placement is expected on 1st June 2021.