The sporting goods manufacturer Adidas is finally putting an end to its US brand Reebok. The company completed the sale of the business to Authentic Brands Group (ABG) for up to 2.1 billion euros, the company announced in Herzogenaauch on Tuesday. Adidas has already received most of the purchase price. On an interim basis, Adidas will continue operating on behalf of ABG in several markets.
As previously announced, the group intends to return part of the proceeds to its shareholders. Adidas wants to buy back shares with a volume of 1.5 billion euros from mid-March until the end of the third quarter. This is in addition to the current program, which envisages the buyback of shares for up to four billion euros by 2025.
