A major Adidas shareholder reduces their ownership to 3.51%

Groupe Bruxelles Lambert, the largest shareholder of Adidas (OTC: ADDYY), has reduced its ownership in the German sportswear firm to 3.51%, as disclosed in filings by Adidas on Tuesday.

The investment holding company, representing the wealthy Frère and Desmarais families, had previously announced on July 31 that it had decreased its stake from 7.6% to 5.1%.

Adidas shares performed well last year and have increased by 16% since the beginning of 2024.

A spokesperson for GBL stated in an emailed response to Reuters, "We sold some shares but continue to support the company, its management, and its strategy."

Paraphrasing text from "Reuters" all rights reserved by the original author.