An investor consortium led by ANTA Sports acquires Amer Sports for US$5B

Date Closed

April 02, 2019

Lead Office

Toronto

Value

5.00 Billion USD

On April 2, 2019, an investor consortium comprised of ANTA Sports Limited, FountainVest Partners, Tencent Holdings Limited and Anamered Investments Inc. completed its acquisition of substantially all of the outstanding securities of Amer Sports Corporation for approximately US$5 billion in a tender offer on the Nasdaq Helsinki stock exchange. The remaining untendered shares of Amer Sports will be delisted following the mandatory redemption.The investor consortium intends to facilitate Amer Sports in their new strategic initiatives under private ownership, including the expansion of Amer Sports’ businesses in the Chinese market.

ANTA Sports Products Limited is a Xiamen, China -based company that designs, develops, manufactures, and markets sportswear, including sports footwear and apparel for professionals and the general public.

FountainVest Partners Co Ltd is a Chinese private equity firm that invests in healthcare, consumption, media, and lifestyle sectors.

Tencent Holdings Limited is a Chinese multinational investment holding conglomerate founded in 1998. Tencent Holdings' subsidiaries specialise in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally.

Amer Sports is a Finland-based sporting goods company with internationally recognized brands that include Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor.

McCarthy Tétrault LLP acted as Canadian counsel to ANTA Sports Limited, FountainVest Partners and Tencent Holdings Limited with a team led by Justin Lapedus that included Noel Chow and Paulina Bogdanova (Corporate and Financial Services), Jason Gudofsky, Michael Caldecott and Julien Beaulieu (Competition/Antitrust), and Stefanie Morand and Kabir Jamal (Tax).

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