Chinese shoe company makes offer to buy Amer Sports

By Stephen Frothingham

HELSINKI (BRAIN) — Amer Sports, the owner of Mavic, Enve, and other brands, has told its shareholders that Anta Sports Products has made bid to buy Amer.

According to Amer, Anta is working with a Hong Kong-based private equity firm to acquire all the shares of Amer for cash. According to Amer, shareholders would be entitled to receive 40 euros ($46.51) per share for all of their shares in Amer Sports.

Anta is a major Chinese athletic shoe supplier and the official shoe of the Chinese team at the Rio Olympic Games. The company operates 600 Fila retail stores in China and 7,000 Anta retail stores globally and is said to be exploring a entry to the European market.

According to Amer the bid would be subject to a number of conditions, including 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.

“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,” Amer said.

Last week Amer’s CEO …read more

Via:: Bicycle Retailer and Industry News