GBL Reduces Stake in Adidas to 3.51%

Groupe Bruxelles Lambert (GBL), a major shareholder, has reduced its stake in Adidas to 3.51%. Previously, GBL announced in July a reduction from 7.6% to 5.1%. Despite the cut, Adidas shares performed well, increasing 16% since 2024's start.


Devdiscourse News Desk | London | Updated: 29-10-2024 12:31 IST | Created: 29-10-2024 12:31 IST
GBL Reduces Stake in Adidas to 3.51%
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Adidas announced on Tuesday that Groupe Bruxelles Lambert (GBL) has reduced its stake in the company to 3.51%. This reduction follows a previous announcement by GBL on July 31, when it trimmed its stake from 7.6% to 5.1%.

GBL, owned by the billionaire Frère and Desmarais families, remains a significant shareholder in Adidas. Despite this sell-off, Adidas shares have demonstrated resilience, climbing by 16% since the start of 2024.

The German sportswear giant experienced a strong performance in the stock market last year, continuing its upward trend into the new year.

(With inputs from agencies.)

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