ANTA Sports(02020.HK): To Purchase 29.06% of PUMA for RMB 12.28 Billion, Advancing "Single-Focus, Multi-Brand and Globalization" Strategy
NewTimespace Report: ANTA Sports Products Limited (Stock Code: 02020) announced that on 26 January 2026 (after trading hours), it entered into a share purchase agreement with Artémis, pursuant to which the Company conditionally agreed to purchase, and the Seller conditionally agreed to sell, an aggregate of 43,014,760 ordinary shares of the Target Company (Puma SE) (representing approximately 29.06% of the total issued share capital of the Target Company as at the date of this announcement), at a consideration of EUR 35 per ordinary share, for an aggregate consideration of EUR 1,505,516,600 (exclusive of tax) (equivalent to approximately RMB 12,277,638,425).
Since the highest applicable percentage ratio in respect of the Acquisition under Rule 14.07 of the Listing Rules is higher than 25% but lower than 100%, the transaction constitutes a major transaction of the Company and is therefore subject to the reporting, announcement and shareholders' approval requirements under Chapter 14 of the Listing Rules. The Company will convene and hold an extraordinary general meeting for Shareholders to consider and, if thought fit, approve by ordinary resolution the Acquisition and the Share Purchase Agreement.
The Acquisition is conditional upon the fulfillment of the following conditions precedent: (i) obtaining anti-trust approvals from relevant anti-trust authorities; (ii) obtaining approval from the Shareholders of the Company for the Acquisition in accordance with applicable laws (including the Listing Rules); (iii) obtaining approval from the National Development and Reform Commission of the People's Republic of China for the Acquisition; and (iv) obtaining approval from relevant foreign direct investment authorities to whom the Acquisition should be filed under applicable laws, rules and/or regulations acting reasonably.
The consideration shall be paid in cash and funded from the internal resources of the Group (including its working capital). Completion shall take place on the fifteenth business day following the Unconditional Date (being the business day on which the Conditions Precedent are satisfied).
The Acquisition represents an important initiative for the Group to further advance its "Single-Focus, Multi-Brand and Globalization" strategy. Through the acquisition of this strategic minority stake and becoming the largest shareholder of the Target Company, the Group expects to further enhance its position and brand recognition in the global sportswear market, thereby strengthening its overall international competitiveness. The Group intends to seek adequate representation on the Supervisory Board as soon as possible following completion of the transaction.
The Target Company, Puma SE, is a European company (Societas Europaea) organized under German law, whose shares are admitted to trading on the regulated market of the Frankfurt Stock Exchange. For the years ended 31 December 2023 and 2024, the Target Group recorded revenue of EUR 8,601.7 million and EUR 8,817.2 million respectively, and net profit of EUR 360.6 million and EUR 342.3 million respectively. For the six months ended 30 June 2025, revenue was EUR 4,018.2 million with a net loss of EUR 246.6 million.
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