Adidas sold for $370.48 million. (Adidas AG)

Footwear News, February, 1993 by Fallon, James

Adidas AG was finally sold to a group of European investors for $370.48 million when Bernard Tapie Finance S.A. put up 78% of the company's shares for sale. The new owners will be facing many problems which include the lack of capital and the high cost of production. The company plans to rebuild the Adidas name by increasing capital, investing more money on promotions and focusing on the US market.

LONDON (FNS) -- Adidas International Holding GmbH finally got a new owner last week when Bernard Tapie Finance S.A. sold its 78 percent shareholding in the German athletic footwear and apparel company to a group of European investors and financial institutions for 615 million German marks ($370.48 million).

The deal ends months of uncertainty over ownership of Adidas,...

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