Anta plans to purchase 29% of Puma's shares for $1.8 billion.

Chinese sportswear company ANTA Sports has agreed to purchase approximately 29% of Puma Company for 1.5 billion euros, making it the largest shareholder of the German sports brand. According to the stock purchase agreement, ANTA will acquire around 43 million shares of Puma at a price of 35 euros per share from the French billionaire Pinault family's holding company Artmis. Puma's closing price on Monday was 21.63 euros. Over the past 12 months, Puma's stock has fallen by 32%, with a market value of 3.2 billion euros. ANTA, headquartered in Fujian, has seen a 7% decrease in its stock price in Hong Kong over the past 12 months, with a market value of 27.3 billion US dollars. ANTA stated in the documents submitted to the Hong Kong Stock Exchange that the acquisition is an important move in the company's strategy of "single focus, multiple brands, and globalization." Media reports in November had revealed that ANTA was considering a potential bid for Puma and had been working with advisors to evaluate a bid for the company. Following the announcement of this news, Puma's stock price saw its largest increase in years.