Anta, China's major sporting goods company, has acquired a 29% stake in Germany's Puma, becoming its largest shareholder. The acquisition price was reportedly approximately ¥270 billion, and the two companies are said to have reached an agreement in January this year.
Anta Sports Products (Anta), China's major sporting goods company, announced on the 7th that it had acquired a 29% stake in Germany's Puma, becoming its largest shareholder. The announcement was made in Shanghai, and the two companies reportedly reached an agreement in January this year.
The acquisition price was €1.5055 billion (approximately ¥270 billion), and Anta reportedly purchased the Pinault family's stake through an asset management company. This increased Anta's ownership interest in Puma and will give it influence over the company's management.
The article reports that Anta is expected to support Puma's earnings improvement by applying its expertise in selling multiple Puma brands and managing supply chains.