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Sporting Goods

Reuters | Equities.com |

Adidas is selling Reebok to Authentic Brands Group (ABG) for up to 2.1 billion euros ($2.5 billion) as the German sporting goods company concentrates on its core brand after a deal that did not deliver.

Adidas bought Reebok for $3.8 billion in 2006 to help compete with arch-rival Nike, but its sluggish performance prompted repeated calls from investors to sell the U.S. and Canada focused brand.