ANTA Sports Products Limited (AS7.F,2020.HK), a Chinese sports equipment company, said on Tuesday that it has inked a share purchase deal with Groupe Artemis, the investment company of the Pinault family, to acquire a 29.06% stake in PUMA SE (PMMAF,PUM.DE) for EUR 1.5 billion in cash.
Ding Shizhong, Board Chairman of ANTA Sports, said: "This acquisition makes ANTA Sports the largest shareholder of PUMA and marks a major step forward in our 'single-focus, multi-brand, globalization' strategy. This will further accelerate ANTA Sports' globalization, and help drive the next chapter of growth for the global sports markets including China."
The transaction, to be financed by cash on hand, is anticipated to be closed by the end of 2026.
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