{"id":130792,"date":"2021-07-01T09:23:19","date_gmt":"2021-07-01T09:23:19","guid":{"rendered":"https:\/\/precoinnews.com\/?p=130792"},"modified":"2021-07-01T09:23:19","modified_gmt":"2021-07-01T09:23:19","slug":"adidas-shortlists-bidders-in-reebok-sale-sources","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/adidas-shortlists-bidders-in-reebok-sale-sources\/","title":{"rendered":"Adidas shortlists bidders in Reebok sale -sources"},"content":{"rendered":"
FILE PHOTO: Boards with Reebok store logo are seen on a shopping center at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. REUTERS\/Grigory Dukor\/File Photo<\/figcaption>

(Corrects typographical error in headline)<\/p>\n

FRANKFURT (Reuters) – Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company\u2019s expectations, sources close to the matter said.<\/p>\n

U.S. rival Wolverine, which has partnered with brand transformation specialist Authentic Brands Group, has been asked to submit a final bid in August, as have buyout firms Advent, CVC, Cerberus and Sycamore, the sources said.<\/p>\n

Adidas bought U.S. fitness label Reebok for $3.8 billion in2006 to help to compete with arch-rival Nike, but itssluggish performance led to repeated calls from investors todispose of the brand, which is now expected to fetch up to1 billion euros ($1.2 billion).<\/p>\n

Adidas declined to comment.<\/p>\n

The prospective bidders also declined to comment or were not immediately available for comment.<\/p>\n

($1 = 0.8441 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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