08/12/2021 1:19 PM
Clarín.com
Economy
Updated 08/12/2021 1:31 PM
Adidas will sell Reebok to the Authentic Brands Group of the United States
, the company that
manages brands such as Forever 21, Nautica, and Nine West
.
Last February, after 15 years, the company with the three strips had announced that it was
beginning a divestment process of
the company it had acquired to reinforce its competition with Nike.
The German sportswear company had bought Boston-based Reebok
in 2006 for $ 3.8 billion
, aiming at the time to strengthen its competition with Nike.
The sale now, as it transpired,
will be made for US $ 2,500 million
(2,100 million euros)
According to estimates from Adidas,
the transaction would be closed in the first quarter of 2022 and the agreed sum will be paid in cash
, the German group said in a statement.
The transfer will be concluded after the approval by the competent authorities,
According to the company,
the sale has no impact on its financial estimates for the current year
or the five-year strategy announced in March.
Last February, Adidas announced that it had decided to
"begin a formal divestment process at Reebok"
as part of a five-year recovery plan.
"After careful reflection, we have come to the conclusion that Reebok and Adidas will be able to improve their growth power independently," explained the president of the multinational, Kasper Rorsted, at that time.
Adidas sells Reebok
Reebok never managed to gain its own financial autonomy
, despite collaborations with celebrities from the artistic world such as Victoria Beckham, Cardi B or Ariana Grande.
The brand was valued at the beginning of the year at around 800 million euros (about US $ 973 million), after successive devaluations.
YN
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