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Tencent consider joining hands with Anta to acquire Finland sports brand Amer Sports

via:CnBeta     time:2018/11/14 19:07:49     readed:364

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As of Wednesday 10:23 Helsinki Time (Wednesday 16:23 Beijing Time), Amer's share price rose 3.6% to 35 euros, expected to hit its highest closing price in more than six weeks. Earlier Wednesday, Amer shares rose 5.8%.

Anta said in September that it had issued an instructive offer of 40 euros per share to Amer, together with Chinese private equity fund Fangyuan Capital, with an estimated value of 4.7 billion euros ($5.3 billion). The consortium has been promoting this potential takeover transaction and seeking to obtain at least 3 billion 500 million euros of loans.

Tencent's participation will help investors'consortia promote the Amer brand in China, one of the largest online shopping markets in the world. China Internet Corporation has been working with physical retailers. Tencent agreed to invest in a supermarket chain last year, while rival Alibaba Group acquired a local department store operator.

China's acquisition consortium seeks to reach an acquisition agreement as soon as possible in the coming weeks, and any deal faces the possibility of delaying or breaking down, according to people familiar with the matter.

A Tencent spokesman declined to comment.

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