Groupe Artémis could reduce stake in Puma by 25%

Published:  24 June, 2020

The French holding company, owned by Kering’s Chairman and CEO François-Henri Pinault, acquired 29% of Puma shares after being offered a dividend in kind by Kering in 2018.

Groupe Artémis is to proceed with a new €500 million bond offering in Germany convertible into Puma shares in 2025. With the convertible bond offering, the French holding indicated the conversion premium would be between 35% and 40% over the reference share price of Puma, a similar premium to that indicated by Kering in 2019. At full conversion, Artemis expects its stake in Puma to shrink to approximately 25%.

Artémis was founded in 1992 by French entrepreneur François Pinault. It manages a range of companies and holds shares in various sectors, in France and abroad. For over 20 years, the holding has been the controlling shareholder of Kering (previously PPR). Its consolidated assets exceed €30 billion.

Source: SGB Media