A bid to purchase Adidas’ Reebok unit for an estimated $2.2 billion by a group of investors that included Jynwell Capital and funds associated with the government of Abu Dhabi has been launched as the Wall Street Journal reported Sunday.
The Journal further stated that the offer will very soon be made in a letter addressed to Adidas directors by the Hong Kong-based advisory and private equity investment firm, Jynwel Capital that is being managed by Jho Low and funds associated with the Abu Dhabi government as cited sources that remain anonymous but were very close to the matter.
The investors desire to that the top executives remain as they were and keep the ongoing strategic path of Reebok, however, it will operate in the principle that ownership and management that will have a better focus on its improvement beyond public shareholder scrutiny will be a big benefit for the unit.
The U.S. based Reebok was bought in August 2005 for $3.8 billion by Germany’s Adidas. A range of shoes for toning made a good initial success but Adidas’ Reebok unit fell into a slow but sure decline ever since the purchase happened.
