Anta Consortium Acquisition Of The Amamin Process Completed More Than 98% Original Stock Holders Agreed To Deal

On the evening of April 1st, Anta sports announced the latest progress in the acquisition of Amer Sports Corporation by the consortium of investors.

The takeover bid led by Anta was closed at 12 p.m. local time March 29th, 3 p.m. in Finland, that is, Beijing time March 29th, 17 hours and 3 minutes.

The final results of the subsequent period show that the takeover shares account for about 3.13% of all the shares and voting rights of yamamin sports.

In conjunction with the previous offer, 94.38% of the shares were acquired, and the acquisition ratio reached 98.11%.

The Anta consortium will complete the payment process of the paction in accordance with the payment procedures described in the terms and conditions of the tender offer on or before and after April 2nd, but the actual time for the original shareholders to collect the funds will depend on the operation time of the relevant financial institutions.

According to previous news, Anta sports and China Private Equity Fund founder capital, Lululemon founder ChipWilson and Tencent consortium, the price of 40 euros per share to buy its amamin sports equity, the total price of about 4 billion 600 million euros.

With the conclusion of the follow-up period, the consortium of investors has decided not to launch any other follow-up offer.

Therefore, the tender offer procedures have been completed.

Next, the offeror will apply to the Finland chamber of Commerce to redeem the the Redemption Board of the Finland Chamber ofCommerce to start the mandatory redemption procedure.

Reuters has reported that if the acquisition is completed, Anta will receive 58% of the equity of amamin sports and 21.3% of the Chinese private equity fund's source capital. Anamered Investments, the investment company of Lululemon founder ChipWilson, will get 20.6%.

As a member of the buyout consortium, Tencent, a Chinese technology giant, participates in trading through a fund from Fangyuan capital, with a shareholding ratio of about 5% to 10%.

Up to now, the investors' consortium has not disclosed their specific shareholding ratio.

After the acquisition, amamin sports will continue to operate independently and have an independent board of directors.

The consortium has invited HeikkiTakala, the current president and chief executive officer of amamin sports, and other top executives to continue to be responsible for the management and operation of the company.

This is China's sporting goods industry to date, the largest paction of overseas mergers and acquisitions.

In February this year, Zheng Jie, President of Anta group, said in an interview with the media, "once the successful acquisition, the biggest synergy will be in China. Many of its brands are small in China, but the brand gene is very strong and has unique technology and product strength."

In 1950, amamfin sports was established in Finland and listed on the NASDAQ Nordic market in 1977.

The company has a wide range of product lines, including tennis racket Wilson, hiking shoes Salomon, baseball LouisvilleSlugger, outdoor equipment, and Atomic.

Earlier, the 2018 fiscal year results released by amamfin sports show excellent performance in clothing category and direct selling, and the sales growth in the US and China led the group's sales growth by 7% to 2 billion 678 million euros compared with the previous year. The pre tax profit was 231 million euros, and sales and profits reached a new high.

However, Anta expects that shortly after the completion of the acquisition, amamwin sports will not bring too much profit to the group, but it will accelerate the growth of earnings.

Driven by multi brand strategy, in the 2018 fiscal year, Anta group's revenue rose 44.4% to 24 billion 100 million yuan, and net profit increased 32.9% to 4 billion 100 million yuan.

The two core indicators have reached a record high since Anta's listing and maintained double-digit growth for 5 consecutive years.