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Article: Pentland to buy Tapie's holdings in Adidas AG. (Pentland Group PLC; Bernard Tapie Finance S.A.)
- Article from:
- WWD
- Article date:
- July 8, 1992
- Author:
CopyrightCOPYRIGHT 1992 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON (FNS) -- Pentland Group PLC said Tuesday it plans to acquire 79.95 percent of the holding company of Adidas AG for 621 million marks ($410.9 million) in cash. The British group already owns the remaining 20.05 percent.
Pentland is buying the shares in the holding company from Bernard Tapie Finance S.A. and other French investors. The holding company, Bernard Tapie Finance GmbH, owns 95 percent of Adidas. The remaining 5 percent is owned by heirs of the Dassler family that founded Adidas.
Pentland has no immediate plans to buy the family holding, said Frank Farrant, Pentland's joint managing director for finance.
The deal ends several ...