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Article: West Germans OK tapie deal. (Bernard Tapie's bid to purchase Adidas AG)
- Article from:
- Footwear News
- Article date:
- August 20, 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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West Germans OK Tapie deal
PARIS - Bernard Tapie, the French investor who agreed to purchase 80 percent of Adidas AG, based in Herzogenaurach, West Germany, for 1.6 billion francs ($304.8 million), has won approval of the deal from the West German federal cartel office, a West German government official disclosed last week.
A source close to Tapie said it is likely the financier will be named to an official position during Adidas' next stockholders' meeting, which is scheduled for Thursday. Adidas' president Rene Jaeggi previously had said Tapie would replace Gerhard Zienher as chairman of the company's supervisory board within a year (see FN 8/6.).