Overview

• Bloomberg reported that Artémis is working with advisers on a potential sale of its roughly 29 percent holding in Puma, a move neither Artémis nor Puma has confirmed.
• The holding company has contacted prospective buyers including Anta Sports, Li Ning, U.S. sportswear firms and sovereign wealth funds in the Middle East, according to the reports.
• Puma’s stock jumped as much as 20 percent in Frankfurt trading after the sale exploration surfaced, marking its biggest intraday gain in years.
• WWD cited an estimated value of about €800 million for the stake, while The Straits Times put Puma’s total market capitalization near €3.2 billion.
• The development follows weaker preliminary second-quarter sales of €1.94 billion, a cut to full-year guidance with a profit warning, and a leadership change to CEO Arthur Hoeld on July 1.