BlackRock buys into ABG

According to Reuters, BlackRock bought shares worth US$ 875 Millions of Authentic Brands Group (ABG), making it its biggest shareholder.

The purchase values ABG above US$ 4 Billion.

ABG was funded primarily through Leonard Green & Partners.

ABG buys and licenses famous brands like Judith Leiber, Hickey-Freeman, Jones NY, Juicy Couture, Frye, and Nautica.

It also manages celebrities, f. e. Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, Greg Norman, and Michael Jackson.