*Herzogenaurach/New Delhi, Jan 15 (PTI) Sportswear brandPuma SE to welcome the proposal of its majority shareholderKering SA to reduce its stake in the company, saying it wouldlead to a greater free float of Puma stocks and provideinvestors an enhanced possibility to invest in the company.
Kering, which owns approximately 86 per cent of Puma'stotal share capital has said it will propose at its AGM todistribute approximately 70 per cent of the total sharecapital of PUMA to Kering's shareholders, thus reducing itsshareholding in to approximately 16 per cent.
"We are very pleased that Kering has proposed this way toreduce its stake in Puma. It would allow us to continue withour current business strategy that has started to show goodresults," Puma CEO Bjorn Gulden said.
The transaction would increase Puma's free float fromcurrently 14 per cent to approximately 55 per cent," Guldensaid.
As part of the sale, Kering's largest shareholder ArtemisSA would receive approximately 29 per cent of Puma's sharecapital and would become a direct and long-term shareholder,the company said.
*****Tourism and Hospitality Skill Council to organise job fair*The Tourism and Hospitality Skill Council (THSC) todaysaid they are organising a job fair on January 19 for careeropportunities in the sector.
Over 50 recruiters from Delhi NCR would be participatingin the day long fair.
"They will be offering full time, part time,entrepreneurial opportunity and apprenticeships," it said in astatement.
It will be held inside the campus of Guru Tegh BahadurInstitute of Technology here. PTI PRJ RR ADIBAL.
This is unedited, unformatted feed from the Press Trust of India wire.