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Article: Tapie sells Adidas Int'l for $370M. (Bernard Tapie Finance S.A., Adidas International Holding GmbH) (Brief Article)
- Article from:
- WWD
- Article date:
- February 16, 1993
- Author:
CopyrightCOPYRIGHT 1993 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 -- Bernard Tapie Finance SA sold its 78 percent share in Adidas International Holding GmbH to a group of European investors and financial institutions Monday for 615 million Deutschmarks ($370.48 million) in cash.
The new owners of the sports apparel and footwear company include Robert Louis-Dreyfus, 46, who is chief executive office of the Saatchi & Saatchi PLC advertising agency. His private company, Ricesa Corp., has taken a 15 percent stake in Adidas.
Louis-Dreyfus will become chairman of Adidas on April 7, when he will retire from Saatchi & Saatchi.
Coatbridge Holdings Ltd., a U.K. investment group controlled by Luxembourg-based ...