Anta Sports to become top Puma shareholder

Anta Sports will buy 43 million Puma shares from Artemis at €35 each, taking a 29% stake in a deal valued at about €1.51 billion ($1.79 billion) that is expected to close by year-end pending regulatory approval; the article mentions Puma reported a more than 15% sales decline in Q3 last year.

Anta Sports will buy a 29% stake in Puma by purchasing 43 million shares from the Artemis group at €35 per share, a stock exchange filing showed. The transaction values the deal at about €1.51 billion ($1.79 billion) and is expected to close by the end of the year, subject to regulatory approvals. Anta said the stake would enhance its global presence and brand recognition, including in China, and indicated it currently has no plans for a full takeover while remaining open to deeper partnership. Artemis said the sale will allow it to redeploy resources to other sectors. Deal details: - Anta will buy 43 million Puma shares from Artemis at €35 each, giving it a 29% stake. - The deal is valued at about €1.51 billion ($1.79 billion) and, the article mentions, represents a more than 60% premium to Puma's last close according to Bloomberg. - The purchase will be paid in cash and is expected to close by the end of the year, subject to regulatory approvals. - Anta said it does not plan a full takeover but will "carefully assess the possibility of further deepening the partnership between the two parties in the future." - Artemis said the sale will let it redeploy resources to new value-creating sectors. - Anta, founded in 1991, is parent to brands via its Amer Sports unit including Wilson, Arc'teryx and Salomon; it closed its acquisition of Amer in 2019 in a deal worth about $5.2 billion, and is described by Euromonitor as the world's third-largest sportswear brand after Nike and Adidas. Summary: The transaction makes Anta the largest shareholder in Puma and shifts ownership stakes within the global sportswear sector. The article mentions Puma has faced weak demand and reported a more than 15% sales decline in the third quarter of last year. The deal still requires regulatory approvals and is expected to close by year-end. Further strategic steps or integration plans are undetermined at this time.