Press release : Kering to Sell part of Its Puma stake
KERING TO SELL PART OF
ITS PUMA STAKE
Kering announces the launch of the sell-down of
approximately 8.9 million shares that it owns in Puma SE
(“Puma”), representing
approximately 5.9% of the share capital of Puma (the
“Shares”), through a placement to qualified
investors only, as defined in Article 2 point (e) of Regulation
(EU) 2017/1129, by way of an accelerated bookbuilding process (the
“Placement”).
Following the Placement, Kering is expected to
retain approximately 4.0% of Puma’s outstanding shares. As a result
of the Placement, Puma’s free float is expected to be increased to
approximately 66.7%.
The proceeds of this transaction will be used
for the general corporate purposes of Kering and will further
strengthen its financial structure.
Kering and Artémis will be subject to a lock-up
relating to the Puma’s shares, which is expected to end after a
period of 90 calendar days from the settlement date of the Shares,
subject to certain exceptions or waiver by the joint global
coordinators.
Kering will announce the results of the
Placement after the close of the bookbuilding process.
Forward-looking Statements
This press release includes "forward-looking
statements". All statements other than statements of historical
facts included in this press release, including, without
limitation, those regarding Kering's financial position, business
strategy, plans and objectives of management for future operations,
are forward-looking statements. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements of
Kering, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such forward-looking statements
are based on numerous assumptions regarding Kering's present and
future business strategies and the environment in which Kering will
operate in the future. Additional factors could cause actual
results, performance or achievements to differ materially.
About KeringA global Luxury
group, Kering manages the development of a series of renowned
Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint
Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni,
Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin,
Girard-Perregaux, as well as Kering Eyewear. By placing creativity
at the heart of its strategy, Kering enables its Houses to set new
limits in terms of their creative expression while crafting
tomorrow’s Luxury in a sustainable and responsible way. We capture
these beliefs in our signature: “Empowering Imagination”. In 2020,
Kering had over 38,000 employees and revenue of €13.1 billion.
Contacts
PressEmilie
Gargatte +33
(0)1 45 64 61
20 emilie.gargatte@kering.comMarie
de
Montreynaud +33
(0)1 45 64 62 53
marie.demontreynaud@kering.com
Analysts/investorsClaire
Roblet +33
(0)1 45 64 61
49 claire.roblet@kering.comLaura
Levy
+33 (0)1 45 64 60 45
laura.levy@kering.com
www.kering.comTwitter: @KeringGroupLinkedIn:
KeringInstagram: @kering_officialYouTube: KeringGroup
IMPORTANT NOTICE
The distribution of this press release and the
offer and sale of the Shares may be restricted by law in certain
jurisdictions and persons into whose possession of this document or
other information referred to herein comes should inform themselves
about and observe any such restriction. Any failure to comply with
these restrictions may constitute a violation of the securities
laws of any such jurisdiction.
The Shares have not been and are not being
offered to the public in any jurisdiction and may not be offered to
the public in any jurisdiction in circumstances which would require
the preparation or registration of any prospectus or offering
document relating to the Shares in such jurisdiction. This press
release is not an offer of securities for sale in any jurisdiction,
including the United States of America, South Africa, Australia,
Canada, or Japan. No action has been taken to permit a public
offering of the Shares or possession or distribution of this press
release in any jurisdiction where action for that purpose is
required. Neither this press release nor anything contained herein
shall form the basis of, or be relied upon in connection with, any
offer or purchase whatsoever in any jurisdiction and shall not
constitute or form part of an offer to sell or the solicitation of
an offer to buy any securities in the United States of America or
in any other jurisdiction. The information contained in this press
release is for background purposes only and does not purport to be
full or complete and no reliance may be placed by any person for
any purpose on the information contained in this announcement or
its accuracy, fairness or completeness.
European Economic Area
This press release is an advertisement and not a
prospectus within the meaning of Regulation (EU) 2017/1129 as
amended (the “Prospectus Regulation”).
With respect to member states of the European
Economic Area (the “Member States”), no action has
been undertaken or will be undertaken to make an offer to the
public of the Shares requiring a publication of a prospectus in any
Member State. As a result, the Shares may only be offered or sold
pursuant to an exemption under the Prospectus Regulation.
France
The Shares have not been and will not be offered
or sold, directly or indirectly, to the public in France (other
than to qualified investors). Any offer or sale of the Shares and
distribution of any offering material relating to the Shares have
been and will be made in France only to qualified investors as
defined in point (e) of Article 2 of the Prospectus Regulation and
in accordance with Articles L. 411-1 and L. 411-2 of the
French Code monétaire et financier.
United Kingdom
This press release is addressed and directed
only to (i) persons who are located outside the United Kingdom,
(ii) those persons falling within the definition of investment
professionals (as defined in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotions) Order 2005
(the “Order”)) , (iii) persons falling within Article 49(2)(a) to
(d) (“high net worth companies, unincorporated associations, etc.”)
of the Order and (iv) any other person to whom this press release
may otherwise lawfully be communicated (all such persons together
being referred to as “Relevant Persons”). The Shares are only
available to Relevant Persons, and any invitation, offer or
agreement to subscribe, purchase, or otherwise acquire the Shares
may be addressed and/or concluded only with Relevant Persons. All
persons other than Relevant Persons must abstain from using or
relying on this document and all information contained therein.
This press release is not a prospectus which has
been approved by the Financial Conduct Authority or any other
United Kingdom regulatory authority for the purposes of Section 85
of the Financial Services and Markets Act 2000.
United States
This press release may not be published,
distributed or transmitted in the United States of America
(including its territories and dependencies).
This press release does not constitute or form
part an offer of securities for sale or any solicitation to
purchase or subscribe for securities or any solicitation of sale of
securities in the United States. The securities referred to herein
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended (the “Securities
Act”) or the law of any State or other jurisdiction of the
United States, and may not be offered or sold in the United States
of America absent registration under the Securities Act or pursuant
to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act. Kering does not
intend to register all or any portion of the securities in the
United States under the Securities Act or to conduct a public
offering of the Securities in the United States. This press release
is being issued pursuant to and in accordance with Rule 135e under
the Securities Act.
South Africa, Australia, Canada and
Japan
The information included in this press release
does not constitute an offer of securities in South Africa,
Australia, Canada or Japan.
The distribution of this press release may, in
certain countries, constitute a breach of applicable laws.
In connection with any offering of securities,
the bookrunners appointed by the selling shareholder in connection
with the offering (together the “Banks”) and any
of the Bank’ respective affiliates may take up as a principal
position any securities and in that capacity may retain, purchase
or sell for their own account such securities. In addition each of
the Banks may enter into financing arrangements (including swaps or
contracts for differences) with investors in connection with which
they may from time to time acquire, hold or dispose of securities.
They do not intend to disclose the extent of any such investment or
transactions otherwise than in accordance with any legal or
regulatory obligation to do so.
The Banks are acting on behalf of the selling
shareholder and no one else in connection with any offering of the
Shares and will not regard any other person as their respective
clients nor be responsible to any other person for providing the
protections afforded to any of their respective clients or for
providing advice in relation to any offering of the Shares nor for
providing advice in relation to the offering, the contents of this
announcement or any transaction, arrangement or other matter
referred to herein.
None of the Banks or any of their or their
affiliates’ directors, officers, employees, advisers or agents
accepts any responsibility or liability whatsoever for or makes any
representation or warranty, express or implied, as to the truth,
accuracy or completeness of the information in this announcement
(or whether any information has been omitted from the announcement)
or any other information relating to Kering, Puma or their
respective subsidiaries or associated companies, whether written,
oral or in a visual or electronic form, and howsoever transmitted
or made available or for any loss howsoever arising from any use of
this announcement or its contents or otherwise arising in
connection therewith.
- Press release - Kering to sell part of its Puma stake - 26 05
21
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