(Reuters) -The holding company controlled by the Pinault family, Artemis, reflects on its options concerning Puma, according to an article by Bloomberg published on Monday, causing a public share of the German brand of sports items.
Contacted by Reuters, an Artemis spokesperson did not wish to comment. Puma was not reachable immediately for a comment.
The Puma action, which has lost around 50% of its value since the start of the year, was flying more than 18.5% around 2:20 p.m. GMT.
The title of the French luxury group Kering, of which the Pinault family is the first shareholder via Artemis, earned 1.4%.
Citing anonymous sources, Bloomberg said that the Pinault worked with advisers to assess the possible options concerning his participation in Puma, and had contacted potential buyers.
Artemis, which also holds participations in luxury, art and the entertainment industry, is the subject of increased attention from investors after Reuters reported in May that it had accumulated a major debt by trying to diversify.
The holding company told Reuters last month that she had “no problem of liquidity” linked to the decline in Kering dividends and other assets, including Puma.
Artemis took a participation in Puma after a reorganization of the Kering portfolio in 2018, when the parent company of the Gucci brand, which then also controlled the German equipment supplier, refocused only on luxury.
(Preetika Parashuraman in Bangalore, Tassilo Hummel in Paris and Christina Amann in Berlin; Florence Lève; edited by Blandine Hénault and Augustin Turpin)
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