Simon Property Group Sells Off Stake in Authentic Brands for $1.2 Billion [Yahoo! Finance]
ADIDAS AG S/ADR (ADDYY)
NASDAQ:AMEX Investor Relations:
adidas-group.com/en/investors/overview
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Source: Yahoo! Finance
That put Simon's proceeds on the sale of what was once a 12 percent stake in Authentic at $1.45 billion over the past two quarters. The company previously sold shares in the fourth quarter. More from WWD To Drive Growth in Brazil, Authentic Brands Group Names New Regional Head Jamie Salter, CEO of Authentic Brands Group, to Be Honored as a Father of the Year Authentic Brands Group Licenses Centric for Vince Accessories “We generated substantial value from the ABG investment and a 7-times multiple on our net invested capital during our short ownership period,” Simon, who is chairman, chief executive officer and president of the real estate firm, told analysts on a conference call on Monday. Jamie Salter, who founded Authentic in 2010, told WWD that the stock sales to various investors reflected demand in the market and in some transactions valued the company at $17 billion. According to Salter, the players picking up Simon's shares were Leonard Green & Partners, General
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