Adidas completes Reebok sale
02/03/2022
Adidas will continue to operate the business on ABG’s behalf during the transition period in several markets, it stated. Following a series of deferred local closings, it will then fully transfer over to ABG’s operating partners by early 2023, the company added. The majority of the up to €2.1 billion (roughly $2.3 billion) cash deal, agreed upon in August of last year, has been paid.
On announcing the news, chief financial officer at adidas, Harm Ohlmeyer, thanked Reebok and its employees. “We acknowledge their contribution to [adidas] over the years and during the transition period,” he said.
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