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Abu Dhabi government are said to be interested in purchasing Reebok

Abu Dhabi government are said to be interested in purchasing Reebok

$2.2 billion bid


Adidas AG, which owns fellow brand Reebok, saw its shares spike this week after the Wall Street Journal reported that an investor group – that includes Jynwel Capital and funds affiliated with the Abu Dhabi government – planned a $2.2 billion bid to buy

Hong Kong-based private equity investment and advisory firm Jynwel Capital, run by Jho Low, plus Abu Dhabi government-affiliated funds are said to be planning to make the offer imminently in a letter to Adidas directors to purchase it's brand Reebok within the holding company. This is according to the Wall Street Journal, which states its source as unnamed sources close to the matter.

As one of the most high profile global leaders in its field, Adidas has declined to comment on the rumours thus far – and as the world's second largest sportswear firm behind Nike, it's understandable it wants to keep quiet.

Adidas AG holding group bought the American-headquartered Reebok in August 2005 for $3.8 billion. It enjoyed initial success with a range of toning shoes, but has since struggled.

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