The Big A has reached a definitive agreement to sell Ex Numero Uno to ABG for a total of up to €2.1 billion ($2.5 bb), with the majority paid in cash at closing, and the rest deferred and contingent on performance. The sale is expected to close in the first quarter of 2022, and Adidas plans to return most of the proceeds to its shareholders. As Reebok was already being accounted for as discontinued operations, there will be no impact on the current year financial outlook, or on the company’s 2025 targets set out in its Own the Game strategy.

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