Anta Sports' Closing of Puma Stake Acquisition Could Help Boost Turnaound
Dow Jones
Yesterday
1217 GMT - Anta Sports' closing of its stake acquisition in Puma came earlier than expected and seems positive for the German group's turnaround strategy, analysts at Bernstein write in a note. Anta has completed the acquisition of 29.06% of the shares in Puma from the Pinault family. The transaction was previously expected to close at the end of the year, the brokerage says. While Anta is now Puma's largest shareholder, it doesn't seem that the company plans to attempt to acquire complete control of the sports group, but instead to share capabilities with Puma, the analysts say. The move has two key benefits for Puma, including improved governance and incremental exposure to China, a core market for sports brands, they say. Shares in Puma are up 1.7%.
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