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

Published 2018-12-07, 05:03 a/m
Updated 2018-12-07, 05:10 a/m
© Reuters.  China's Anta Sports-led group buying Finland's Amer Sports for $5.2 bln

* Anta led consortium makes $5.2 bln offer for Amer Sports

* Deal represents 13.6 premium to Amer's last close

* Consortium includes Tencent & Canadian billionaire Chip Wilson

Dec 7 (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 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. ($1 = 0.8790 euros)

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