Adidas-Salomon takes over former joint venture in Turkey
European Sports clothing and equipment maker adidas-Salomon has taken full ownership of its subsidiary in Turkey, adidas Spor Malzemeleri Satis ve Pazarlama.
The sporting goods giant purchased the remaining 49 percent of shares from Esem Spor Giyim Sanayi ve Ticaret, a listed Turkish trading company.
Adidas said in a statement that the move underscores its strategy "to support its brands with wholly-owned subsidiaries in key markets." — (menareport.com)
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