Puma was bought by Chinese investors! China's Anta Sports invested 55.5 billion in cash and became the largest shareholder

China's ANTA Sports recently announced that it has completed the acquisition of German sporting goods manufacturer "Puma".

China's ANTA Sports recently announced that it has completed the acquisition of German sporting goods manufacturer "Puma". ANTA Sports used cash of 1.555 billion euros (approximately NT$55.5 billion) to buy 29.06% of Puma's equity. ANTA Sports officially became Puma's largest shareholder.

Anta Sports stated that it has completed the acquisition of 29.06% of Puma's equity from Artemis SAS, the investment company of the French Pinault family, on October 7, with a cash transaction amount of 1.555 billion euros. After obtaining approval from all relevant regulatory authorities and meeting customary closing conditions, ANTA Sports has now become Puma's largest shareholder.

ANTA Sports stated that it will fully respect Puma’s sports tradition, distinctive brand characteristics and corporate culture, as well as its independent governance structure and brand autonomy. However, Anta Sports also pointed out that after taking the stake, it will seek to obtain sufficient representation on the Puma board of directors. At present, Anta Sports has no plans to fully acquire Puma.

Puma CEO Arthur Hoeld said that he welcomes ANTA Sports to become Puma's largest shareholder. Puma regards ANTA Sports' long-term commitment as a high degree of recognition of Puma's strategy, management team and future development. We look forward to the two parties establishing a fruitful cooperative relationship and exploring how both parties can use their respective strengths to create sustainable value for Puma and its shareholders, moving towards the goal of becoming the top three sports brands in the world.

Anta Sports announced in January this year that it would acquire 29.06% of Puma's shares for a consideration of 35 euros per ordinary share. The transaction would be paid in cash. However, Anta Sports also mentioned at the time that the transaction still needs to be approved by antitrust agencies, Anta Sports shareholders, and regulatory agencies in China and other jurisdictions.

ANTA Sports currently owns a number of outdoor sports brands including high-end outdoor products Arc'teryx, cross-country and ski brand Salomon, ball sports brand Wilson, and ski brand Peak Performance.