Skechers USA Inc., the third largest shoe manufacturer worldwide, was taken over by the Brazilian private equity company 3G Capital in a go-private deal worth nine billion US dollars (8.28 billion euros). The transaction, which had been announced for the first time on May 5, has now been completed. The Skechers shares have not been traded on the New York Stock Exchange Nyse since September 12, the shoe provider said on Friday.
The company passed 3G capital as part of the takeover. The management team of Skechers remained unchanged. Robert Greenberg is still CEO and Michael Greenberg President.
Under the direction of co-founders Alex Behring and Daniel Schwartz, 3G Capital is known for his owner-oriented approach in long-term investments. The company has a tradition in working with management and start -up families to acquire well -known companies and promote their growth – a strategy that is now also used by Skechers.
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