Noerr advises Kering on sale of part of its Puma stake

Noerr has advised Kering S.A on the further reduction of its stake in Puma SE. The French luxury goods group has sold around 8.8 million shares at a price of €74.50 per share to selected investors in an accelerated bookbuilding process. After completion of the transaction with proceeds of around €655.6 million, Kering will hold a remaining stake of approximately 9.8% in Puma.

Noerr advised Kering on the German law aspects of the transaction with a team led by Michael Brellochs, who also advised the group on reducing its stake in Puma in 2018.

Advisors to Kering S.A.: Noerr LLP

Michael Brellochs, Laurenz Wieneke, Susanne Rummel, Felix Link (all Capital Markets).