Regulatory News:
Not for distribution, directly or indirectly, in the United
States of America, South Africa, Australia, Canada or Japan, or in
any other jurisdiction in which it would be unlawful to do
so.
Kering (Paris:KER) announces the completion of the sale
following an accelerated bookbuilding process to qualified
investors only, as defined in Article 2 point (e) of Regulation
(EU) 2017/1129 (the “Placement”), of approximately 5.9% of
the share capital of Puma SE (“Puma”) for a total amount of
approximately € 655.6 million, corresponding to a selling price of
€ 74.50 per Puma share (the “Shares”).
Following this transaction, Kering will have a remaining stake
of 9.8% of Puma’s share capital.
Kering and Artémis have entered into a lock-up agreement
relating to the Puma’s shares, which lock-up is expected to end
after a period of 90 calendar days from the settlement date of the
Shares, subject to certain exceptions or waiver by the joint global
coordinators.
The proceeds of this transaction will be used for the general
corporate purposes of Kering and will further strengthen its
financial structure.
Settlement of the Placement is expected on 8 October 2020.
Forward-looking Statements
This press release includes "forward-looking statements". All
statements other than statements of historical facts included in
this press release, including, without limitation, those regarding
Kering's financial position, business strategy, plans and
objectives of management for future operations, are forward-looking
statements. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of Kering, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding Kering's present and future
business strategies and the environment in which Kering will
operate in the future. Additional factors could cause actual
results, performance or achievements to differ materially.
About Kering
A global Luxury group, Kering manages the development of a
series of renowned Houses in Fashion, Leather Goods, Jewelry and
Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga,
Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin,
Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By
placing creativity at the heart of its strategy, Kering enables its
Houses to set new limits in terms of their creative expression
while crafting tomorrow’s Luxury in a sustainable and responsible
way. We capture these beliefs in our signature: “Empowering
Imagination”. In 2019, Kering had nearly 38,000 employees and
revenue of €15.9 billion.
IMPORTANT NOTICE
The distribution of this press release and the offer and sale of
the Shares may be restricted by law in certain jurisdictions and
persons into whose possession of this document or other information
referred to herein comes should inform themselves about and observe
any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction.
The Shares have not been and are not being offered to the public
in any jurisdiction and may not be offered to the public in any
jurisdiction in circumstances which would require the preparation
or registration of any prospectus or offering document relating to
the Shares in such jurisdiction. This press release is not an offer
of securities for sale in any jurisdiction, including the United
States of America, South Africa, Australia, Canada, or Japan. No
action has been taken to permit a public offering of the Shares or
possession or distribution of this press release in any
jurisdiction where action for that purpose is required. Neither
this press release nor anything contained herein shall form the
basis of, or be relied upon in connection with, any offer or
purchase whatsoever in any jurisdiction and shall not constitute or
form part of an offer to sell or the solicitation of an offer to
buy any securities in the United States of America or in any other
jurisdiction. The information contained in this press release is
for background purposes only and does not purport to be full or
complete and no reliance may be placed by any person for any
purpose on the information contained in this announcement or its
accuracy, fairness or completeness.
European Economic Area and United Kingdom
This press release is an advertisement and not a prospectus
within the meaning of Regulation (EU) 2017/1129 as amended (the
“Prospectus Regulation”).
With respect to member states of the European Economic Area (the
“Member States”) and the United Kingdom, no action has been
undertaken or will be undertaken to make an offer to the public of
the Shares requiring a publication of a prospectus in any Member
State or the United Kingdom. As a result, the Shares may only be
offered or sold pursuant to an exemption under the Prospectus
Regulation.
France
The Shares have not been and will not be offered or sold,
directly or indirectly, to the public in France (other than to
qualified investors). Any offer or sale of the Shares and
distribution of any offering material relating to the Shares have
been and will be made in France only to qualified investors as
defined in point (e) of Article 2 of the Prospectus Regulation and
in accordance with Articles L. 411-1 and L. 411-2 of the French
Code monétaire et financier.
United Kingdom
This press release is addressed and directed only (i) to persons
located outside the United Kingdom, (ii) to investment
professionals as defined in Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”)
or (iii) to high net worth companies, and other persons to whom it
may lawfully be communicated, falling within Article 49(2) (a) to
(d) of the Order (the persons mentioned in paragraphs (i), (ii) and
(iii) all deemed relevant persons (“Relevant Persons”)). The Shares
are only available to Relevant Persons, and any invitation, offer
or agreement to subscribe, purchase, or otherwise acquire the
Shares may be addressed and/or concluded only with Relevant
Persons. All persons other than Relevant Persons must abstain from
using or relying on this document and all information contained
therein.
This press release is not a prospectus which has been approved
by the Financial Conduct Authority or any other United Kingdom
regulatory authority for the purposes of Section 85 of the
Financial Services and Markets Act 2000.
United States
This press release may not be published, distributed or
transmitted in the United States (including its territories and
dependencies).
This press release does not constitute or form part an offer of
securities for sale or any solicitation to purchase or subscribe
for securities or any solicitation of sale of securities in the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended (the “Securities Act”) or the law of any State or
other jurisdiction of the United States , and may not be offered or
sold in the United States absent registration under the Securities
Act or pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act.
Kering does not intend to register all or any portion of the
securities in the United States under the Securities Act or to
conduct a public offering of the Securities in the United States.
This press release is being issued pursuant to and in accordance
with Rule 135e under the Securities Act.
South Africa, Australia, Canada and Japan
The information included in this press release does not
constitute an offer of securities in South Africa, Australia,
Canada or Japan.
The distribution of this press release may, in certain
countries, constitute a breach of applicable laws.
In connection with any offering of securities, the bookrunners
appointed by the selling shareholder in connection with the
offering (together the “Banks”) and any of the Bank’
respective affiliates may take up as a principal position any
securities and in that capacity may retain, purchase or sell for
their own account such securities. In addition each of the Banks
may enter into financing arrangements (including swaps or contracts
for differences) with investors in connection with which they may
from time to time acquire, hold or dispose of securities. They do
not intend to disclose the extent of any such investment or
transactions otherwise than in accordance with any legal or
regulatory obligation to do so.
The Banks are acting on behalf of the selling shareholder and no
one else in connection with any offering of the Shares and will not
regard any other person as their respective clients nor be
responsible to any other person for providing the protections
afforded to any of their respective clients or for providing advice
in relation to any offering of the Shares nor for providing advice
in relation to the offering, the contents of this announcement or
any transaction, arrangement or other matter referred to
herein.
None of the Banks or any of their or their affiliates’
directors, officers, employees, advisers or agents accepts any
responsibility or liability whatsoever for or makes any
representation or warranty, express or implied, as to the truth,
accuracy or completeness of the information in this announcement
(or whether any information has been omitted from the announcement)
or any other information relating to Kering, Puma or their
respective subsidiaries or associated companies, whether written,
oral or in a visual or electronic form, and howsoever transmitted
or made available or for any loss howsoever arising from any use of
this announcement or its contents or otherwise arising in
connection therewith.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201005006006/en/
Press Emilie Gargatte +33 (0)1 45 64 61 20
emilie.gargatte@kering.com
Marie de Montreynaud +33 (0)1 45 64 62 53
marie.demontreynaud@kering.com
Analysts/investors Claire Roblet +33 (0)1 45 64 61 49
claire.roblet@kering.com
Laura Levy +33 (0)1 45 64 60 45 laura.levy@kering.com
www.kering.com Twitter: @KeringGroup LinkedIn: Kering Instagram:
@kering_official YouTube: KeringGroup
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