Mainland sports brand Anta (02020) announced
an agreement with Groupe Artémis, the investment firm of the Pinault family of France, to acquire a 29.06% stake in Puma SE, owned by the German sports brand Puma, for a cash consideration of 35 euros per common share, totaling 1.506 billion euros (about Rmb12.78 billion), paid through internal resources. After the transaction was completed, Anta became a major shareholder of Puma.
It is expected to be completed by the end of the year, and yesterday the stock price rose by 2%.
Anta said Puma, as an international leading sports brand with a deep history, its global business is highly complementary to Anta's existing multi-brand and layout. After becoming Puma's largest shareholder, Puma will not directly intervene in Puma's operations, and the brand will remain German-style. In an analyst conference call, Anta management said there is no intention of privatizing Puma at this stage, and the acquisition will be financed entirely from internal sources and will not affect the company's dividend distribution or shareholders' cash returns
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
