Adidas - Tapie Mandated The Crédit Lyonnais Bank To Sell Adidas
Time: 1992
Place: France
Details: In 1992, unable to pay the loan interest, Tapie mandated the Crédit Lyonnais bank to sell Adidas, and the bank subsequently converted the outstanding debt owed into equity of the enterprise, which was unusual as per the prevalent French banking practice.
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