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5/27, 8:49 AM (Source: TeleTrader)
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Puma-4.37%

103.95
Chart for: PUMA SE

Kering-7.39%

665.50
Chart for: Kering SA

Kering sells 5.9% of Puma shares for €805 million

Kering S.A. revealed on Thursday it sold a 5.9% stake in German sportswear manufacturer Puma SE for around €805 million, or €90.3 per Puma share.

The French luxury group's stake in Puma thus decreased to 4%.

"The proceeds of this transaction will be used for the general corporate purposes of Kering and will further strengthen its financial structure," the French company noted in a statement.

Breaking the News / MS