Frasers Group Buys Puma Stake, Shifts UK HQ

Frasers Group, led by Mike Ashley, acquires a significant stake in Puma, the third-largest sportswear brand, for over five million euros. The investment includes put options valued at around one hundred eighty-seven million euros. Puma, founded in Germany, recently moved its UK headquarters to Manchester. Frasers Group, which owns brands like Sports Direct and House of Fraser, may seek board seats at Puma. Pumas shares rose three percent on Thursday, but have dropped twenty percent over the past year. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/11f8107226d37396