GERMANY: Puma poised to take over Dobotex
Sportswear giant Puma is set to take a majority shareholding in Dutch licensee Dobotex, with effect from the beginning of next year.
The German company said it would complete the deal to take over Dobotex from 1 January 2009, subject to approval from anti-trust authorities.
The announcement follows the extension in July of Puma's long-term licensing contract with Dobotex to produce socks for global markets outside the US.
The two companies first worked together in 1997.
Puma has also signed up Dobotex to produce licensed bodywear under a new contract.
Puma's previous bodywear contract with licensee Schiesser Lifestyle is due to terminate at the end of 2008.
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