These deferred local closings will take place later this year and in early 2023. In-line with the definitive agreement signed in August 2021 and as a result of the formal completion of the divestiture, adidas has now received the majority of the total consideration of up to € 2.1 billion in cash, with the remainder comprised of deferred and contingent consideration.

• Divestiture of Reebok to Authentic Brands Group formally completed 

• adidas receives majority of total consideration in cash upon formally completed Reebok divestiture 

• adidas launches additional share buyback program of up to € 1.5 billion to return cash proceeds to shareholders

• First tranche of regular multi-year share buyback program completed on February 22

Against this background, adidas will launch a new share buyback program to return the cash proceeds from the Reebok divestiture to its shareholders. Starting in mid-March 2022, the company intends to repurchase own shares in an amount of up to € 1.5 billion until the end of the third quarter 2022.  

The decision to repurchase shares will be in addition to the company’s regular buyback activities. In December 2021, adidas had launched a multi-year share buyback program under which the company plans to buy back shares in an amount of up to € 4 billion until 2025. The first tranche of this program was launched on January 10 and completed on February 22, 2022. During that period, the company bought back 4,156,558 shares for a total amount of € 1 billion, corresponding to an average purchase price per share of € 240.58.? ?“We thank Reebok and the employees who transfer to ABG and its operating partners as a result of today’s closing and acknowledge their contribution to the company over the years and during the transition period”, said Harm Ohlmeyer, CFO of adidas.