Adidas headquarters raided in years-long tax investigation, company says

(Reuters) -Authorities raided Adidas AG (ETR:ADSGN ) headquarters in Germany as part of a years-long tax investigation, a spokesperson from the company said on Tuesday.

Adidas (OTC:ADDYY ) said in a statement it has been in contact with customs authorities for several years about the matter and is providing them with documents and information.

The raid was first reported by Germany’s Manager Magazine.

The investigation covers the period from October 2019 to August 2024 and is related to compliance with customs and tax regulations regarding the import of products into Germany, the company said, adding it was cooperating with authorities.



The company said it continues to work closely with customs authorities to clarify questions that have also arisen due to different interpretations of German and European law.

"The company does not expect a significant financial impact in connection with the investigation," Adidas said in a statement.

(Reporting Maria Martinez and Alexander Huebner in Berlin, and Urvi Dugar; Editing by Shreya Biswas and Rod Nickel )

Source: Investing.com