Moody's Finds Authentic Brands' Announced Reebok Purchase Has No Immediate Impact On Ratings - NewsBreak

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By Martin in Business
Updated 3 years ago

Moody's Investors Service said that Authentic Brands' proposed debt-financed acquisition of Reebok has no immediate impact on its credit ratings. On August 12, 2021, both Authentic Brands [1] (B2 Stable) and Adidas AG [2] (A2 Stable) announced that Authentic Brands entered into a definitive agreement to purchase Reebok from Adidas AG for a total consideration of up to € 2.1 billion, with the majority to be paid in cash at closing and the remainder comprised of deferred and contingent consideration. The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions including regulatory approval.

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