Anta-led Chinese consortium acquiring Amer Sports for 5.2 billion dollars

Amer Sports Corporation has confirmed a public cash tender to acquire the entire stake in the company’s business by a Chinese investor consortium led by Anta Sports Products Limited. The consortium has offered price under the tender offer of 40 euros in cash per Amer Sports share. Anta had, on September 12 made an all-cash offer to acquire Amer Sports, the owner of Salomon, Arc’teryx, Suunto, Wilson, Louisville Slugger, Precor and a few other niche sports brands.

Commenting on the takeover of Amer Sports, Ding Shizhong, Chairman and CEO of Anta Sports, said in a media statement: "We are delighted about the opportunity to invest in Amer Sports, a leading sporting goods company with a strong portfolio of internationally-recognized brands. In particular, we are excited to bring these premium international brands and products to Chinese consumers, who increasingly seek high-end products with outstanding qualities and heritage in various niche and specialized sports segments."

Chinese investor consortium to acquire Amer Sports

Along with Anta, the consortium comprises of FV Fund (an investment vehicle managed by FountainVest Partners), Anamered Investments (an investment vehicle owned by Mr. Chip Wilson) and Tencent (investing through Tencent SPV as a limited partner in FV Fund).

The company said that the offer price represents a premium of 39 percent compared to the closing price of Amer Sports shares on September 10, 2018 and a premium of 43 percent compared to the volume-weighted average price of Amer Sports shares during the 3-month period prior to and up to September 10, 2018. The terms of the tender offer value the entire issued and outstanding share capital of Amer Sports at 4.6 billion euros (5.3 billion dollars).

After acquisition, the investor consortium intends to invest significant time, resources and effort in helping Amer Sports to accelerate several ongoing and new strategic initiatives under private ownership, including expanding Amer Sports' businesses in the Chinese market.

After the completion of the Tender Offer, the consortium plans for Amer Sports to be operated independently from Anta Sports, with a separate board of directors and has invited Heikki Takala, President and CEO of Amer Sports and his key executives to continue leading the business.

"The offer from the investor consortium represents an acknowledgement of the work we have done, and their plan to keep Amer Sports as an independent company signals a strong confidence in our strategy and business model. Under the ownership, there is an opportunity to continue to deliver our strong sustainable profitable growth with further acceleration in our strategic priorities including soft goods, direct-to-consumer and China," added Takala.

Picture:Amer Sports website