- Prachi Singh |
Following recent media speculations, Amer Sports Corporation has confirmed receiving a non-binding preliminary indication of interest from a consortium comprising Anta Sports Products Limited and the Asian private equity firm FountainVest Partners to acquire the entire share capital of Amer Sports for cash consideration. However, the company said, at this time, Amer Sports is not engaged in any negotiations with the consortium and has made no decisions in respect of the indication of interest.
The company said in a statement that the consortium has stated that making a cash tender offer on the basis of the indication of interest is subject to a number of conditions, including conducting a due diligence investigation, approval of the board of directors of Anta and the investment committee of FountainVest, availability of financing from identified financing sources and receipt of a recommendation from the board of directors of Amer Sports.
Completion of any such cash tender offer, the company added, would in turn be subject to further conditions, including approval by shareholders holding at least 90 percent of the shares of Amer Sports and receipt of all necessary regulatory approvals.