French retail and luxury goods company PPR, through its subsidiary Sapardis, has officially published an offer document to the outside shareholders of German sportswear brand Puma AG for a friendly voluntary takeover. As previously announced, Sapardis is offering €330 in cash for each Puma share.

The acceptance period ends on June 20 with the offer process anticipated to be completed in early July.

Puma will continue to exist as a separate legal entity within the PPR Group and will maintain its headquarters in Germany.