By
with contributions from Joelle Diderich
 on January 11, 2018

Kering is spinning off the majority of its holding in Puma in an effort to focus totally on its luxury brands.

The company is distributing 70 percent of its stake in Puma to shareholders, notably Artémis, which will become a “long-term strategic shareholder” of Puma with a 29 percent stake. Artémis holds a 40.9 percent stake in Kering and Kering will maintain a 16 percent interest in Puma going forward. About 55 percent of Puma’s stock will be free-floating on the stock market.

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