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Article: Tapie faces piper for Adidas fling. (Bernard Tapie)
- Article from:
- Footwear News
- Article date:
- July 23, 1990
- Author:
CopyrightCOPYRIGHT 1990 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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Tapie faces piper for Adidas fling
PARIS (FNS) -- Bernard Tapie may have finessed a bargain for his 80-percent stake in Adidas AG, but his biggest feat -- or possibly defeat -- is yet to come, according to the French financial community.
Tapie must now tackle repayment of the 1.6 billion franc ($289.9 million) loan he is using to finance his interest in Adidas, plus invest another 800 million-1 billion francs ($144.9 million-$181.2 million) in the West German sporting goods concern during the next year to restore the company's profitability.
"For me there are still a lot of questions," said one French analyst who asked not to be named. "I'm still ...