Anta Sports-led consortium closes in on Amer Sports acquisitionBusiness | 13 Mar 2019 5:15 pm
A consortium led by China's leading manufacturer of sportswear Anta Sports is about to complete the purchase of Finnish sporting goods company Amer Sports, according to an announcement issued by Anta Sports Products today, Xinhua reports.
Anta Sports published an offer in Helsinki to purchase all the shares of the Finnish Amer Sports on in December, 2018.
So far, with the shares tendered in the offer representing 94.98 percent of all the shares and votes in Amer Sports (excluding shares held by Amer Sports or any of its subsidiaries), Anta has satisfied all of the terms and conditions of the tender offer, which entitles the Chinese company to complete the purchase.
"The completion trades will be settled and the offer consideration will be paid to the shareholders who have validly accepted the Tender Offer in accordance with the terms and conditions of the Tender Offer on or about 29 March 2019," Anta said in a statement.
Amer owns world famous sports brands such as Wilson, Arc'teryx, Atomic and Salomon. The successful acquisition will enable Anta, which has an brand portfolio including ANTA, FILA, DESCENTE, SPRANDI, KINGKOW and KOLON SPORT, a greater global exposure and influence.
Besides Anta Sports Products, the consortium also consists of investment fund FountainVest Partners, Canadian Anamered Investments and Chinese Tencent. Anta has 58 percent ownership in the consortium.