China's Anta Sports-led group buying Finland's Amer Sports for $5.2 billion

[December 07, 2018]  (Reuters) - A consortium led by China's Anta Sports <2020.HK> made an offer to acquire Finland's Amer Sports <AMEAS.HE> in a deal that values the company at 4.6 billion euros ($5.23 billion), the Chinese firm said on Friday.

The logo of Anta Sports is seen on its product during a news conference announcing the company's annual results in Hong Kong, China February 27, 2018. REUTERS/Bobby Yip

The consortium, which includes Chinese tech giant Tencent Holdings Ltd <0700.HK>, has offered 40 euros per share in cash for the maker of Wilson tennis racquets and branded outdoor gear.

The deal represents a premium of 13.6 percent to Amer's last close and has been unanimously recommended by the board of the Helsinki-based firm.

The consortium plans to operate Amer Sports independently from Anta, with a separate board of directors, Anta said in a statement.

Shareholders representing in aggregate about 7.91 percent stake in Amer Sports have already accepted the deal, it added.

Others in the consortium include Chinese private equity firm Fountainvest Partners and Anamered Investments, which is owned by Canadian billionaire Chip Wilson, founder of yoga apparel company Lululemon Athletica Inc <LULU.O>.

Reuters on Thursday reported that Amer Sports is close to signing a 4.6 billion euro deal to be taken over by a consortium led by Anta Sports, citing a person with direct knowledge of the transaction.

(Reporting by Aditya Soni in Bengaluru; Editing by Muralikumar Anantharaman)

[© 2018 Thomson Reuters. All rights reserved.]

Copyright 2018 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.