Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Beijing’s New Airport Invites Fierce Competition for Seoul and Paris Routes
China Welcomes International Institutions to Take Part in Belt and Road
Fosun Chairman Tells Jack Ma He’s Been ‘Thinking About Succession’
LATEST
Foxconn to Manufacture Wearables in Chengdu
Baidu and ByteDance Launch Tit-for-Tat Lawsuit War
Services Giant Meituan Unveils Multi-Company Ride-Hailing Fleet — But Leaves Didi Out
Star Student Suspected of Killing Mother and Hiding Body for Months Finally Arrested
Leading Chinese Pig Provider Expands Business in Vietnam
Lawsuit Filer Says CEO Offered Her a Job at E-Commerce Giant JD.com Before Alleged Rape
Alibaba, Pinduoduo Wash Up on U.S. Piracy List
Payment Firm Lakala Cheers Investors With Surge in Shenzhen Debut
Chinese Sports Info Platform Prepares to Go Public, Again
Biotech Firm Viva to Raise Up to HK$1.5 Billion in Hong Kong IPO
At Least Three Electric Vehicles Have Spontaneously Exploded in China This Week
Fallen Tech Star LeEco's Listed Arm Braces for Trading Suspension
Central Bank Dismisses Rumors, Says It Will Not Tighten or Loosen Monetary Policy
Yet Another Chinese Coffee Chain Joins the Fundraising Frenzy
Former EV Head Is Being Detained — But No One Knows Where or by Whom
China's Bytedance Gets Reprieve as Indian Court Lifts Ban on TikTok App
Pork Company That Once Offered to Pay Debt With Ham Gets Stock-Market Warning
Huawei Opens Cloud and AI Innovation Lab
Guangdong Public Hospital Probed in Deaths of Newborns
China Welcomes International Institutions to Take Part in Belt and Road

By Qiu Renyu / Feb 05, 2019 05:07 PM / Business & Tech

Photo: VCG

Photo: VCG

One of China's biggest-ever overseas retail purchases is coming into the home stretch as a group led by Anta Sports prepares to take over the Finland-based maker of Wilson tennis rackets and Atomic skis.

Chinese sports apparel company Anta announced yesterday that there will be an extraordinary general meeting (EGM) for shareholders on Feb. 22 to vote on the 4.6 billion euro ($5.2 billion) acquisition of Amer Sports OYJ. Scheduling of the EGM indicates that the deal, first rumored in September and officially announced in December, is close to completion.

Anta, one of China’s largest homegrown makers of sporting goods, is making the bid with internet giant Tencent, Chinese private-equity firm FountainVest Partners, and the billionaire owner of Anamered Investments, Chip Wilson. The purchase at 40 euros per share means that Anta will take majority control of a portfolio of globally-known sports brands such as Louisville Slugger baseball bats, Salomon ski gear and Arc’teryx outdoor gear.

While high-tech international acquisitions have run into problems recently due to rising tensions, Anta and its partners have had a smooth ride through the process.

Related: U.S. Blocks Chinese Takeover of Italian Interiors Company on Security Grounds 

 

Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.