Anta Sports acquires 29% of Puma for 1.5 billion euros | EUROtoday

Following the announcement of the transaction, Anta shares rose by round 2% on the Hong Kong Stock Exchange, whereas Puma rose by 2.2% – to 22.01 euros – at 9.45 am after opening at 23.91 euros (+17%) per share on the Frankfurt Stock Exchange. At 10.40 the inventory returned to flying at 23.30 euros per share (+8.27%).

The numbers of the operation

The $27.8 billion Hong Kong-listed sportswear firm can pay 35 euros in money per share to the Pinault household holding firm Artemis, which additionally controls Paris-listed luxurious conglomerate Kering.

The deal will assist Artemis cut back its excessive debt.

The provide represents a 62% premium to Puma’s closing share value of 21.63 euros on Monday and comes because the German agency seeks to revive its fortunes after shedding floor to Nike and Adidas.

It additionally faces competitors from fast-growing manufacturers reminiscent of New Balance and Hoka.“Puma has greater potential in the Chinese market, where ‍it is underrepresented, with only 7% of its global revenues,” stated Wei Lin, Anta’s world vice chairman of sustainability and investor relations.Anta owns FilaJack Wolfskin, Kolon Sport and Maia Active. He can also be the most important shareholder of Amer Sports, which incorporates Salomon, WilsonPeak Performance e Atomic.