Artemis , the Pinault family's holding company that controls Gucci -owner Kering , will not sell its 29% stake in sports brand Puma at the current market value and is not engaged in talks over a deal, a source close to the firm told Reuters on Thursday.

The comments — the first from a source with detailed knowledge of the private firm’s operations — follow an August report by Bloomberg stating that Artemis was sounding out potential buyers for its $960 million stake in Puma .

Puma shares surged 15% on August 25, but have since lost most of those gains.

The source, who declined to be named because the information was private, said Artemis had been approached by many potential suitors for its stake — including private equity firms and sector peers — but emphasized that the firm w

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