Adidas aims to sell its Reebok division in March 2021

23.10.2020 - Davydova Maria
Adidas aims to sell its Reebok division in March 2021

On Thursday, Adidas AG (ADS) announced that it plans to sell its Reebok (RBK) division. The German multinational sportswear corporation stated that it wants to end its ill-fated investment in the United States-focused brand.

Adidas’s Chief Executive Officer Kasper Rorsted said that it plans to complete the sale by March 2021.

Germany’s Manager Magazin stated that the U.S. apparel maker VF Corp (VFC) and China’s Anta Sports (HKG:2020) were interested in acquiring Reebok.

“While Adidas chief executive officer Kasper Rorsted had hoped for about EUR2BN (US$2.4BN) from selling Reebok before the pandemic, he would now be content with less than that amount,” the Manager Magazin reported.

In 2016, Adidas purchased Reebok for $3.8 billion to compete with its rival Nike Inc. (NKE) in the United States.

Adidas’s shares went up by 3.5% after its Reebok sale announcement.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?