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Adidas drops plan to sell ice hockey business as talks fail

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Attendees photograph the new Adidas Boost at the product launch in New York
© Brendan Mcdermid / Reuters
Attendees photograph the new Adidas Boost at the product launch in New York, February 13, 2013. REUTERS/Brendan McDermid
updated 3/7/2013 5:37:31 AM ET 2013-03-07T10:37:31

HERZOGENAURACH, Germany (Reuters) - Adidas AG has dropped the plan to sell its hockey business as potential buyers did not make offers interesting enough for the German sports apparel company, Chief Executive Herbert Hainer said on Thursday.

Hainer had said in November that Adidas had been approached by several parties interested in buying the ice hockey business.

The ice hockey business suffered an 18 percent drop in sales in the fourth quarter of last year due to a month-long lockout at the National Hockey League as owners and players battled over a labor deal.

Adidas earlier reported fourth-quarter financial results.

(Reporting by Joern Poltz; Writing by Maria Sheahan)

(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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