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Kering to divest part of its Puma stake to free up cash

Neymar Jr. fronting Puma. Image credit: Puma Neymar Jr. fronting Puma. Image credit: Puma

 

Kering will divest almost one-third of its stake in sports footwear giant Puma as the French luxury conglomerate further refines its focus on luxury and also strengthens its balance sheet.