Sportswear brand sold at a huge loss to Authentic Brands Management after failing to take on rival Nike
Adidas is selling Reebok to the US brand management company Authentic Brands Group for up to €2.1bn (£1.8bn), as the German sportswear firm concentrates on its core marque after pressure from investors.
Reebok was bought for €3.1bn in 2006 in a blockbuster deal designed to help the trainers and clothing company take on rival Nike, but it never returned to its 1980s heyday and Adidas investors demanded action.