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ADIDAS’ (DE:ADS) TOP SHAREHOLDER TO SELL PART OF ITS STAKE

  • GBL to sell 10% of its stake in Adidas
  • Seeking to raise more than €350 million

Groupe Bruxelles Lambert (BR:GBLB), better known as GBL, is selling a portion of its stake in German sporting goods maker Adidas AG (DE:ADS). GBL is currently one of Adidas’ top shareholders with a 7.5% stake, worth around €4 billion ($4.5 billion).

GBL has placed 1.37 million Adidas shares up for sale, which represents 10% of its holding, looking to raise more than €350 million.

GBL is selling at €257.75 per share, slightly lower than the stock’s current trading price of €258.20.