12/7/2018, 11:55 AM (Source:
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Chinese group to buy Finnish Amer Sports for €4.6B

A Chinese-based consortium, led by Anta Sports Products Ltd, has offered to acquire the Finnish sports equipment manufacturer Amer Sports Corp. for €4.6 billion, or €40 per share, the group announced on Friday. The stock value of the company was 13.6% lower at its last close,

Amer Sports has several sporting brands in its portfolio, including Salomon and Wilson Sporting Goods. Its board has voted unanimously for the deal, with shareholders, holding close to 8% of shares also accepting it. The company would be operated independently from Anta Sports, according to the buyer.

Among the members of the Chinese consortium are Tencent Holdings and private equity firms Fountainvest Partners and Anamered Investments.

Breaking the News / NI