Adidas Stake Reduction by Major Shareholder Highlights Strategic Moves

Groupe Bruxelles Lambert (GBL) has reduced its stake in Adidas to 3.51%, following an earlier cut to 5.1%. Despite selling shares, GBL continues to support Adidas's management and strategy. Adidas shares have risen 16% in 2024, buoyed by strong performance in the previous year.

In a strategic financial move, Groupe Bruxelles Lambert (GBL) has further reduced its ownership in Adidas to 3.51%, as confirmed by company filings on Tuesday.

The investment firm, linked to the billionaire Frère and Desmarais families, had previously decreased its stake to 5.1% from 7.6% at the end of July, illustrating a calculated adjustment in its asset portfolio as Adidas's shares continue to climb.

A GBL spokesperson stated the firm remains committed to supporting Adidas's leadership and strategic direction, despite the offloading of shares. Notably, Adidas shares have experienced a 16% increase since the start of 2024, continuing a positive trend from the previous year's strong performance.

(With inputs from agencies.)