GERMANY: Puma's Major Shareholder Sells Entire Stake
Shares in German sportswear giant Puma AG fell as much as 10 per cent in early trade on Monday after major shareholder, Monarchy/Regency Enterprises, put its entire 39 per cent holding up for sale. Puma said it has no plans to look for a stakeholder to replace the entertainment group whose stake is estimated to be worth around 580 million euros and helped fund its recent explosive growth.
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