Monarchy Regency, the US media investor that held a controlling, 39-percent stake in German sporting goods maker Puma, announced last Monday it was selling the stock via a market placement. Puma chief executive Jochen Zeitz confirmed the share deal but gave few immediate details.
At Puma headquarters in Herzogenaurach, southern Germany, dpa quoted him as saying Monarchy Regency had been a "major investor" but, given Puma's successes, its involvement was no longer vital to the company.
This story is part of New Europe's Premium content.
|To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑|