Basis for a successful cooperation is set
The Board of Management of PUMA AG welcomes the outcome and success of the voluntary takeover offer by SAPARDIS S.A., a nearly 100% subsidiary of the French luxury goods company PPR S.A. After the closure of the takeover offer, SAPARDIS S.A. owns a total of 62,1% of all PUMA votes. Therefore, a significant number of PUMA shareholders followed the recommendation of the Board of Management to accept the offer price per share of EUR 330 and to sell their PUMA shares.
Jochen Zeitz, CEO and Chairman, PUMA AG: “We are pleased that the PUMA shareholders have with their vote supported the junction of PUMA with the PPR group and set the basis for a successful cooperation. With the support of PPR we will use the large potential of our brand and the emerging possibilities on a long-term basis and will invest into brand-building, enabling us to further strengthen our position as the leading company in the Sportlifestyle market.”
PUMA has become a member of the PPR group. PUMA will announce its financial results for the 2nd Quarter and First Half-Year of 2007 on August, 9. PPR will announce its consolidated financial results for the First Half-Year on August, 31. Additionally, PPR will inform about sales of the PPR group including PUMA on July, 26.