Finland's Amer Sports close to signing $5.2 billion takeover deal by Anta-led consortium
today Dec 7, 2018
The consortium has offered 40 euros per share in cash for the maker of Wilson tennis racquets and branded outdoor gear. Amer Sports shares closed at 35.11 euros on Wednesday.
Under the deal, Anta would take 58 percent of Amer Sports, said the person.
Other investors in the consortium include Chinese private equity firm Fountainvest Partners, which would take 21.3 percent, and Canadian billionaire Chip Wilson, founder of yoga apparel company Lululemon Athletica Inc, who would take a 20.6 percent stake, the person said, declining to be identified as the information is confidential.
Chinese internet and gaming giant Tencent Holdings Ltd is also part of the consortium as an investor in a Fountainvest investment vehicle, the person said.
The deal is expected to be announced soon, the source said.
The consortium will also assume around 1 billion euros in debt from Amer Sports, people familiar with the transaction said.
Anta and Fountainvest did not immediately respond to requests for comment. Calls to Amer Sports went unanswered. Wilson could not immediately be reached for comment.
Tencent declined to comment.
Citigroup is advising the consortium while Goldman Sachs is the advisor for Amer Sports, according to people familiar with the transaction. The two banks declined to comment.
The closing share price of Amer Sports on Wednesday gave the company a market value of 4.1 billion euros. Thursday is a public holiday in Finland, so the stock was not trading.
Bloomberg reported the consortium was nearing a deal to acquire Amer Sports earlier on Thursday.
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