Adidas drops plan to sell ice hockey business as talks fail
HERZOGENAURACH, Germany, March 7
HERZOGENAURACH, Germany, March 7 (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 labour deal.
Adidas earlier reported fourth-quarter financial results. (Reporting by Joern Poltz; Writing by Maria Sheahan)