Anta Led Consortium'S Takeover Of Finland Amer Sports Came To An End.

Anta sporting goods company announced last week that the minimum acceptance conditions and all other terms of completion of the offer offered by Amer Sports (Ya Mafen) of Finland sporting goods group have been met and the tender offer will be completed according to the terms and conditions of the tender offer.

According to the final result of the tender offer, the shares accepted for the takeover offer account for about 94.98% of Amer Sports's total shares and voting rights (excluding Amer Sports and any shares held by its Affiliated Companies).

The paction is expected to be completed by March 29th, and the actual time for the shareholders to accept the payments will depend on the time required for the payment process by the financial institutions.

Last December, Anta sports said that the consortium with Chinese private equity fund founder capital, Canadian yoga clothing brand Lululemon Athletica founder Chip Wilson and China Internet giant Tencent has signed a purchase agreement with the Finland sporting goods group Amer Sports (Ya Mafen), which will buy all the shares of Amer Sports at a price of 40 euros per share, with a total purchase price of about 4 billion 600 million euros (at current exchange rate of about 36 billion yuan).

(see "ornate ambition" report: the consortium headed by Anta formally signed a takeover agreement with the parent company of Finland, Amer Sports, and the total price was 4 billion 600 million euros).

In order to enable other shareholders to accept the terms and conditions of the acquisition, the offeror of Anta group decided to carry out a subsequent deadline ("subsequent period") according to the terms and conditions of the offer.

The follow-up period will begin in March 13, 2019 and will expire on March 27, 2019.

During the subsequent period, the tender offer can be accepted according to the acceptance procedures contained in the terms and conditions of the tender offer.

Acceptance is binding and must not be withdrawn.

The offeror will announce the preliminary percentage of the effective acquisition of shares within the next period of time after March 28, 2019, and publish the final percentage before April 1, 2019.

The offer price for effective acquisition of shares within the next period will be paid before April 2, 2019.

The actual time taken by shareholders to acquire funds will depend on the time required for financial institutions to process payment procedures.

After the acquisition is completed, Amer Sports will continue to operate independently and has an independent board of directors.

The consortium has invited Amer Sports's current president and chief executive officer, Heikki Takala, and other key executives to continue to be responsible for the management and operation of the company.

This is the largest purchase case in China's sporting goods industry so far.

In February of this year, Amer Sports released its fourth quarter and full year financial data for fiscal year 2018.

Clothing category and direct selling business performed well, and sales growth in the US and China led the group's annual sales and profits to a new high.

(see "ornate ambition" report: the new strategy and pformation have achieved initial success. The latest earnings and profits of Amer Sports 2018) continued to grow.

About Amer Sports

Amer Sports was founded in 1950 and is headquartered in Helsinki, Finland.

In the early years, it was an industrial company and began to pform its sports business in 1974. At present, it is a comprehensive sports goods production and marketing multinational company.

Amer Sports has a range of internationally renowned sports and outdoor brands, including:

Canadian high tech outdoor apparel and equipment brand Arc 'Teryx (primitive bird)

French shoe clothing and mountain climbing, hiking, cross-country running and other sports equipment brand Salomon (Salomon)

US tennis and other ball games equipment brand Wilson (Wilson)

Finland diving computer and tools and sports watch brand Suunto

Austria ski equipment brand Atomic

American treadmill and fitness equipment brand Precor

French bicycle system and driver's equipment brand Mavic

About Anta

Anta brand was first established in 1991 and listed on the main board of Hongkong stock exchange in 2007 (Stock Code: 2020). It is a leading sporting goods company in China. In recent years, it has accelerated the strategy of "single focus, multi brand and all channels". Besides Anta and Fila brand, its other brands include: Japanese sportswear brand Descente, children's wear brand KINGKOW and Korean sportswear brand Kolon Sport, British sports shoes brand Sprandi, etc.

In August 2009, Anta acquired BELLE's trademark rights and franchises in Italy with the purchase of BELLE international brand FILA in China.

According to the CITIC Securities report, FILA's terminal retail sales in 2017 amounted to about 5 billion yuan.

In recent years, Anta has been committed to expanding overseas business and seeking to acquire mature global brands.

Zhang Tao, vice president of Anta brand, said in an interview in February that the company is seeking suitable business partners to help them enter the European market as soon as possible, and Amer Sports's business in Europe is undoubtedly very attractive to Anta.

For more background analysis of Anta's acquisition of Amer Sports, we can see "ornate ambition" report: Amer Sports of parent company confirmed that it received initial purchase intention from Anta and Fangyuan capital of China, valued at 4 billion 600 million euros.

About Fang Yuan capital Fountainvest

Founded in 2007, Fangyuan capital is one of the most mature independent Private Equity Investment Firm in Asia.

Fang Yuan capital focuses on long-term investments in industry leading enterprises, and works closely with management teams to promote enterprise growth and create multiple values, including strategy, operation, finance and industry integration.

Fangyuan capital has completed a series of successful investments in Asia, Europe and the United States, focusing on consumer, media and technology, health care, industry and financial services.

Fang Yuan capital is supported by some of the largest sovereign wealth funds and public pension schemes in the world, with assets management of nearly US $5 billion.

About Anamered Investment

Anamered Investments Incorporation (referred to as "Anamered Investments") is an investment company held by Mr. Chip Wilson.

Mr. Wilson is a pioneer in vertical retailing and technology clothing.

As the founder of lululemon athletica Inc., Wilson is an expert in designing technical fabrics and putting technical clothing into the global market.

Mr. Wilson still has a major interest in Lulu lemon and holds a diversified portfolio of private equity, Private Companies, public securities and real estate.

Every private enterprise invested by Mr. Wilson has been trained and supported by long-term capital and has reached a high standard in terms of performance, governance, financial returns and responsibilities.

About Tencent

The Tencent Holdings Ltd (Tencent) was founded in Shenzhen in 1998 and was listed on the main board of the Hongkong stock exchange in 2004.

Tencent enriches Internet users with technology.

The company's social networking and communications platform WeChat and QQ connect users to diverse digital content, including games, videos, music and literature.

Tencent aims to help advertisers reach hundreds of millions of Chinese consumers.

In terms of infrastructure services, Tencent offers different products in the areas of mobile payment, network security, cloud services and AI, so as to promote partner business growth.

Tencent vigorously invests in talents and promotes technological innovation in order to develop together with the Internet industry.

Author: Jiang Fan