Robert Louis-Dreyfus, former chief executive and shareholder of Adidas, has bought out several of his relatives in Groupe LD, thereby taking over control of the family-owned conglomerate. He lifted his stake from 16.7 percent to 55.6 percent, in a discreet transaction that values Groupe LD at about €2.7 billion, excluding the maritime armament business that was spun off. The remaining shares will be held by Robert Louis-Dreyfus’ two sisters and four cousins. Not unlike the deal that enabled Louis-Dreyfus to take effective control of Adidas at almost no risk in 1993, he has reportedly taken over the family firm without disbursing a cent, as the buy-out will be financed by future profits of the company. The valuation also appears quite low, since the 29.5 percent stake that Groupe LD owns in Neuf Cegetel, an internet provider, is already worth €2 billion. On the other hand, Robert Louis-Dreyfus still has to face the verdict of an appeals court in Aix-en-Provence, regarding allegedly fraudulent transfers at his club, Olympique de Marseille, between 1997 and 1999. Last year a court in Marseille gave him a suspended 3-year prison sentence and a fine of €375,000. At the end of the appeal hearings, held in June, the prosecutor requested precisely the same sentence. Yves Marchand, a former associate of Louis-Dreyfus in Airesis, the Swiss holding that controls Le Coq Sportif and Boards & More, was convicted in the same case with a one-year suspended prison sentence, but he did not appeal. Louis-Dreyfus indicated at the beginning of the appeals hearing that he was hoping to entirely clear his name.