Adidas: investment company Jynwel Capital submits offer to buy Reebok for €1.71 billion

Jynwel Capital, an investment company based in Hong Kong and Abu Dhabi (UAE), have sent an unsolicited offer of $2.2bn (€1.71bn) to the Adidas group to buy the Reebok brand, announced the American newspaper The Wall Street Journal on 20/10/2014.

Adidas acquired Reebok for over €3bn in 2006, almost double the current offer from Jynwel Capital. The German group has repositioned Reebok on the running and fitness markets, and more particularly with the CrossFit fitness. The gross margin of Reebok reached 40% in 2013. However, several shareholders wish to sell the brand, which they deem insufficiently profitable, reported the Wall Street Journal.

Adidas will buy back some of its shares for €1.5 billion between 2014 and 2017

• The Adidas Group will buy back some of its shares on the stock market, for a total value of 1.5bn euros, announced the German sports equipment brand on 01/10/2014.
• The operation, funded primarily through the group's free cash flow, will begin in the fourth quarter of 2014 and end in 2017.
• The general meeting of shareholders authorised the Adidas Group, on…