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<ul class="summary-list"><li><keyword id="6377547" type="ORGANIZATION" weightage="60" keywordseo="adidas">Adidas</keyword> has agreed to sell <keyword id="116541" type="COMPANY" weightage="60" keywordseo="Reebok">Reebok</keyword> for roughly $2.5 billion, a sum less than what it originally paid.</li><li>Reebok will be bought by <keyword id="2540641" type="PERSON" weightage="60" keywordseo="Authentic-Brands-Group">Authentic Brands Group</keyword>, a conglomerate that also owns Brooks Brothers and Forever 21.</li><li>Adidas bought Boston-based Reebok back in 2006 for $3.8 billion in an attempt to compete with Nike.</li></ul>Adidas agreed to <a href="https://www.adidas-group.com/en/media/news-archive/press-releases/2021/adidas-sell-reebok-authentic-brands-group/">sell</a> struggling sneaker brand Reebok Thursday for roughly $2.5 billion (€ 2.1 billion), a sum less than what the German multinational initially paid.Reebok will be bought by Authentic Brands Group, a retail conglomerate that has scooped up other distressed brands such as Brooks Brothers, Aeropostale, and Forever 21.<keyword id="54968" type="COMPANY" weightage="60" keywordseo="ABG">ABG</keyword>, a <a href="https://www.businessinsider.com/meet-authentic-brands-ceo-jamie-salter-barneys-brooks-brothers-owner-2020-9#jamie-salter-57-is-a-natural-salesman-1">family business</a>, is planning for its public debut that could happen as soon as this summer, <a href="https://www.sec.gov/Archives/edgar/data/0001666054/000110465921089494/tm2114913-5_s1.htm">regulatory filings</a> show.The closing of the transaction is expected to occur in the first quarter of 2022, according to Adidas. The company said it intends to share the majority of the cash proceeds with its shareholders.Adidas first floated its intent to divest Reebok in <a href="https://www.businessinsider.com/adidas-divest-reebok-brand-after-years-of-sluggish-sales-2021-2">February</a> 2020 after a review of the brand. Around March, Adidas said it had developed a new five-year strategy that involves "further strengthening the leading position of the Adidas brand in the global sporting goods market."Adidas bought Boston-based Reebok back in 2006 for $3.8 billion in an attempt to compete with Nike.But despite recent attempts of Reebok <a href="https://www.businessinsider.com/reebok-new-office-photos-comeback-plan-2018-5">to position</a> itself as a go-to brand for athletic individuals by partnering with UFC and Crossfit, its sales have not been able to keep up."With this change in ownership, we believe the Reebok brand will be well-positioned for long-term success," Kasper Rorsted, CEO of Adidas AG, said in a statement.Adidas said the sale of Reebok will have no impact on its financial outlook for 2021.

Adidas agrees to sell Reebok for $2.5 billion to a company aiming to go public this summer

<ul class="summary-list"><li><keyword id="12587243" type="UNKNOWN" weightage="60" keywordseo="authentic-brands-group" source="Orion">Authentic Brands Group</keyword> will sell equity stakes valuing the retail management company at $1.27 billion. </li><li>ABG's founder and CEO Jamie Salter reportedly said the company will pursue an IPO in 2023 or 2024. </li></ul>Authentic Brands Group, which is set to acquire Reebok next year, has set aside plans to go public and will sell equity stakes in deals valuing the retail management firm at more than $12 billion. ABG said Monday funds advised by CVC Capital Partners and HPS Investment Partners will purchase "significant" equity stakes from some of its shareholders, putting a $12.7 enterprise value on the company that licenses and develops more than 30 lifestyle and entertainment brands. Investors have been anticipating ABG would go public following its July filing with the Securities and Exchange Commission plans for an initial public offering, a move that would list the company that generated about $10 billion in annual gross merchandise value worldwide in 2020. ABG's CEO Jamie Salter <a href="https://wwd.com/business-news/financial/abg-sells-equity-stake-delays-ipo-1235001337/">told fashion industry trade publication WWD</a> that the company will pursue an IPO in 2023 or 2024. "The investments from CVC Capital and HPS Investment Partners are a strong vote of confidence in ABG's long-term vision and strategic approach," said Nick Woodhouse, president of ABG, in the statement. "We are primed to continue furthering our global presence, acquiring new entertainment and lifestyle brands and driving organic growth for our portfolio."The company will raise $3.5 billion through the stake sales, with the largest portion coming from CVC, <a href="https://www.wsj.com/articles/authentic-brands-raises-3-5-billion-pushes-back-ipo-11637603145">The Wall Street Journal reported</a>, citing people familiar with the matter.ABG took <keyword id="12587248" type="UNKNOWN" weightage="60" keywordseo="brooks-brothers" source="Orion">Brooks Brothers</keyword> out of bankruptcy last year and in 2022 plans to add Reebook to its stable of fashion, entertainment, home, arts, and media brands. The company, which was founded by Salter in 2010, counts <keyword id="12587247" type="UNKNOWN" weightage="60" keywordseo="forever-21" source="Orion">Forever 21</keyword>, Aeropostale, and Lucky Brand among its lifestyle companies, and Sports Illustrated and former NBA star Shaquille O'Neal as part of its entertainment portfolio. <a href="https://www.blackrock.com/">BlackRock Long Term Private Capital</a> will remain as ABG's largest shareholder.

The company behind Forever 21 and Brooks Brothers is delaying IPO plans and selling stakes to private equity firms

<ul><li><keyword id="44525" type="General" weightage="80" keywordseo="abg-shipyard" source="Orion">ABG Shipyard</keyword>, one of the most prominent private sector shipyard companies in India, has allegedly defrauded banks of nearly ₹23,000 crore.</li><li>Two systemically important banks, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword> and <keyword id="13222" type="General" weightage="100" keywordseo="sbi" source="Orion">SBI</keyword>, have an exposure of nearly 44%.</li><li>Here’s a full list of banks with exposure to ABG Shipyard, and how their stocks have reacted to the news.</li></ul>The ABG Shipyard fraud case could be the biggest bank fraud case in the history of India, with an exposure of ₹22,842 crore to a consortium of 28 banks led by the State Bank of India and ICICI Bank. Of the total ₹22,842 crore exposure to ABG Shipyard, there are two domestic systemically important banks – otherwise known as ‘too big to fail’ – ICICI Bank and the state-run SBI. <cmsannotation type="cmsannotation" annotationid="Here’s how much exposure each bank has to ABG Shipyard:" comment="subhead" text="Here’s how much exposure each bank has to ABG Shipyard:">Here’s how much exposure each bank has to ABG Shipyard:</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Exposure </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share gain/loss </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ICICI Bank </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,089 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.10% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> IDBI Bank </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,639 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.70% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> SBI </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,925 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.20% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Bank of Baroda </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,614 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.30% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> PNB </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,244 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.80% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Others </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,331 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Total </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹22,842 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody><tbody></tbody></table> Note: Share gain/loss as of 10:00 a.m., February 14 As per the FIR filed on SBI’s complaint, a forensic audit conducted by Ernst &amp; Young revealed that from April 2012 to June 2017, loans given to the company were siphoned off and were also used to purchase assets for its related parties. The company allegedly also invested some of those loans in its overseas subsidiary. The primary accused in the case are Rishi Kamlesh Agarwal, the company’s former chairman and managing director, Santhanam Muthaswamy, executive director and three other directors – Sushil Kumar Agarwal, Ashwini Kumar and Ravi Vimal Nevetia. The matter surfaced after an audit conducted by EY pointed towards the alleged fraud. A 2019 complaint by SBI was returned by the CBI, seeking an internal investigation by the bank, including the details of fraud committed on other banks which are a part of the consortium. SBI filed a fresh complaint in September 2020, informing the CBI that staff accountability had been dealt with and closed by the competent authority and it was found that its staff was not involved in the alleged fraud. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-spicejet-adani-enterprises-ongc-and-other-hot-stocks-on-february-14/slidelist/89556333.cms">Adani Wilmar, SpiceJet, Adani Enterprises, ONGC and other hot stocks on February 14</a> <a href="https://www.businessinsider.in/tech/news/what-to-expect-at-apples-march-8-event-iphone-se-3-ipad-air-5-and-new-mac-mini/articleshow/89398279.cms">iPhone SE 3, iPad Air 5 and everything else you need to know about Apple's March 8 event</a> <a href="https://www.businessinsider.in/stock-market/news/ahead-of-lic-ipo-investors-are-selling-insurance-company-stocks/articleshow/89503445.cms">Ahead of LIC IPO, investors are selling insurance company stocks</a>

SBI and ICICI Bank investors pay the price for the nearly ₹10,000 crore lost to the biggest bank fraud ever in India

New Delhi, Dec 18 () Markets regulator Sebi has imposed a penalty of Rs 10 lakh on Magnum Fincom Broking and 22 other entities for cornering the shares reserved for the retail category in three initial public offerings (IPOs).
 The Securities and Exchange Board of India (Sebi) conducted an investigation into the dealing of Magnum and 22 connected entities in the IPO of Kernex Microsystems, Punj Lloyd and ABG Shipyard during the period from November 2005 to January 2006 with regard to the alleged violations of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.
 The probe found that Magnum employed a scheme or device of misusing the IPO allotment process by cornering the shares of the three IPOs that were intended for genuine retail allottees, and was aided and abetted by the 22 connected entities.
 Magnum has made a profit of Rs 3.34 lakh by selling the shares received through the IPO allotment, it added.
 Accordingly, the regulator has slapped a fine of Rs 10 lakh to be paid jointly and severally, on these entities.
 In a separate order, the regulator has slapped a fine of Rs 3 lakh on a stock broker Leo Financial Services for failing to maintain segregation of client's funds and misusing these funds.
 By such activity, Leo Financial Services has violated stock brokers' norm.
 In another order, the markets watchdog has levied a fine of Rs 2 lakh on Gretex Corporate Services and Rs 1 lakh on Vatsal Agarwaal for failing to obtain acquisition window for "offer to buy" on the internet-based book building system platform of the BSE before opening of the tendering period and thereby violated SAST (Substantial Acquisition of Shares and Takeover) norms. SP HRS

Sebi imposes Rs 10 lakh fine on Magnum, 22 others for cornering retail investors' shares in IPOs

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.izettleinvestors.com/en/images/product-images/">iZettle</a>An iZettle terminal in action.</div></div></div><ul><li>iZettle has announced plans to list on the Nasdaq Stockholm stock exchange.</li><li>The loss-making card terminal manufacturer hopes to raise $225 million in the listing to fund growth.</li></ul> LONDON - Swedish card reading startup iZettle on Tuesday announced plans to list its shares on the Nasdaq Stockholm stock exchange.iZettle plans to raise SEK 2 billion (€190 million, $225 million) selling shares to investors in the initial public offering. The funds will be used to "support the company's future growth and operational strategy," iZettle said.iZettle was founded in 2010 in Stockholm and makes portable card readers that allow small businesses and sole traders to easily and cheaply take card payments. In recent years the company has also branched out into lending to businesses based on data collected from the card readers.No guidance was given as to iZettle's potential valuation but the company did disclose its most recent financials. The loss-making company had revenues of SEK 966 million ($109.4 million) last year and said revenues grew by a compound annual rate of 56% between 2015 and 2017.The company made a loss of SEK 232 million ($26.2 million) in 2017 on an adjusted earnings basis but said net margins improved from -84% in 2015 to -30% last year.Jacob de Geer, CEO and co-founder of iZettle, said in a statement: "We are still in an extensive expansion phase and are in a unique position to make a difference for millions of small businesses in the markets that we serve."The IPO will provide us with improved access to capital markets to facilitate our continued growth and help us strengthen our profile with merchants, key business partners and in the fierce competition for talent."iZettle's main rival is Jack Dorsey's Square, which produces similar payment terminals and also targets the small business market. Square has <a href="http://www.businessinsider.com/square-looks-to-be-ramping-up-in-europe-2016-8">been expanding its presence in Europe in recent years.</a>iZettle said it is targeting annual revenue growth of 40% and hopes to reach a positive earnings position by 202o. The company had 413,000 active users last year, up from 344,000 in 2016.Carnegie Investment Bank, JPMorgan, Barclays, ABG Sundal Collier, Nordea Bank, and KeyBanc Capital Markets are all working on the float.<a href="http://www.businessinsider.com/intelligence/future-of-zelle-venmo-and-p2p-payments?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=payments_ctgr_leadgen&amp;utm_campaign=payments_ctgr_leadgen_future-of-zelle"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/shift-from-growth-to-value-could-signal-the-end-of-the-bull-cycle-2018-4">There's a major shift occurring that could signal the end of the historic bull market</a></h3> <div> </div> </div>

European Square rival iZettle is heading for a $225 million IPO

<ul><li>ABFRL has exclusive rights to distribute and sell <keyword id="116541" type="General" weightage="20" keywordseo="reebok" source="Orion">Reebok</keyword> products through wholesale, ecommerce and retail stores.</li><li>In 2006, Reebok in India was bigger than Nike, Adidas and Puma.</li><li>Aditya Birla Fashion and Retail is guaranteed to make returns on this investment, says Edelweiss</li></ul>The stock price of <keyword id="3378209" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail-limited" source="Orion">Aditya Birla Fashion and Retail Limited</keyword> (ABFRL) shot up nearly 5%, on December 14, after it announced a long-term licensing deal with sporting goods company Reebok. As part of the agreement, Aditya Birla Fashion and Retail would get exclusive rights to distribute and sell Reebok products through wholesale, ecommerce and Reebok-branded retail stores in India and ASEAN countries. ASEAN includes ten Southeast Asian countries — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The Indian company — which sits on a market cap of ₹26,470.75 (nearly $3.5 billion), as on December 16 — will pay a consideration of ₹8,000 crore to ₹10,000 crore towards purchase of inventory and other current assets as well as liabilities. According to Edelweiss’ latest report, Aditya Birla Fashion and Retail is guaranteed to make returns on this investment as Reebok has reported a profit after tax (PAT) of ₹5,000 crore globally between fiscal year 2018 and 2020. Germany’s Adidas had bought Reebok back in 2006, at the time when Reebok was leading the Indian sportswear market. However, Reebok has been struggling over the past few years and other sports-wear brands — Adidas, Puma and Nike — are clocking higher revenue. Keeping this in mind, Adidas decided to sell the brand to Authentic Brands Group (ABG) and the transaction is expected to close in the first quarter of 2022. ABG has now signed a licensing deal with Aditya Birla Fashion and Retail to sell products in India and other ASEAN countries. <div type="image" title="https://www.businessinsider.in/retail/news/aditya-birla-fashion-will-now-sell-reebok-products-in-india-and-10-other-asian-countries/articleshow/88272443.cms" msid="88312297" hostid="261"></div> Authentic Brands Group (ABG) — a global brand development, marketing and entertainment company that owns Reebok — noted that the partnership will further boost its global Reebok strategy of assembling a network of core operating partners. Ashish Dikshit, managing director at ABFRL, said, “In partnership with ABG, we plan to accelerate Reebok’s business in India, combining its global appeal and salience amongst Indian youth. This transaction further strengthens the ABFRL portfolio and increases our ability to engage with consumers across various need spaces.” <div type="image" title="Aditya Birla Fashion will now sell Reebok products in 11 Asian countries — and it may reap benefits soon" msid="88312193" hostid="261"></div> “A successful Reebok revival can add significant value to ABFRL in the backdrop of sector tailwinds. The key aspect though is the focus/team that ABFRL can put in place to drive the turnaround,” a report by Edelweiss said, while maintaining its ‘buy’ call for Aditya Birla Fashion and Retail shares at a trigger point of ₹337. <div type="image" title="Aditya Birla Fashion will now sell Reebok products in 11 Asian countries — and it may reap benefits soon" msid="88312217" hostid="261"></div>Aditya Birla Fashion and Retail will partner with Reebok Design Group (RDG) — the newly-established global brand hub based in Boston — on all product design, development, innovation and creative direction to drive a unified brand voice and vision. The proposed transaction is subject to the successful completion of due diligence, necessary statutory approvals and signing of definitive agreements. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/medplus-health-services-is-a-good-play-on-growing-e-commerce-pharmacy-space-say-analysts/articleshow/88265079.cms" data-type="tilCustomLink">MedPlus Health Services is a good play on growing e-commerce pharmacy space, say analysts; GMP at ₹300</a> <a href="https://www.businessinsider.in/stock-market/news/data-patterns-ipo-opens-today-gmp-at-550-check-out-other-important-details/articleshow/88264929.cms" data-type="tilCustomLink">Data Patterns’ IPO opens today; GMP at ₹550 — Check out other important details</a> <a href="https://www.businessinsider.in/stock-market/news/heres-how-you-can-check-rategain-ipo-allotment-status/articleshow/88259778.cms" data-type="tilCustomLink">RateGain’s IPO allotment status would be announced today — GMP at ₹37</a>

You Searched For "abg ipo" and got 6 results

Adidas agrees to sell Reebok for $2.5 billion to a company aiming to go public this summer

Isabelle Lee

The company behind Forever 21 and Brooks Brothers is delaying IPO plans and selling stakes to private equity firms

Carla Mozée

SBI and ICICI Bank investors pay the price for the nearly ₹10,000 crore lost to the biggest bank fraud ever in India

Rounak Jain

Sebi imposes Rs 10 lakh fine on Magnum, 22 others for cornering retail investors' shares in IPOs

PTI

European Square rival iZettle is heading for a $225 million IPO

Oscar Williams-Grut

Aditya Birla Fashion will now sell Reebok products in 11 Asian countries — and it may reap benefits soon

Kritti Bhalla

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