Tencent closed to buy sports firm Amer
In this article (4)
Social media conglomerate Tencent Holdings is believed to be close to joining a Chinese investment group bidding to acquire Finnish sports goods firm Amer. The consortium, spearheaded by Anta Sports Products, would see Tencent participating as one of a few minority investors under the proposal. Its involvement would serve to boost considerably Amer’s brands in the Chinese market.
In a statement made two months ago, Anta spoke of joining with local buyout company FountainVest Partners to offer a potential €40 (US$45.60) per share for Amer, a target value of around €4.7 billion ($5.3 billion). The consortium has sought at least €3.5 billion ($3.99 billion) in loans. Anta has a market value of about $11.6 billion.
The acquisition agreement could potentially be complete within several weeks.
Questions & Answers
Q.What is the expected total value of the acquisition of Amer?
What is the expected total value of the acquisition of Amer?
The target value for acquiring Amer, based on the potential offer of €40 per share, is around €4.7 billion. This is equivalent to approximately $5.3 billion.
Q.Which company is leading the consortium aiming to acquire Amer?
Which company is leading the consortium aiming to acquire Amer?
Anta Sports Products is spearheading the consortium that is bidding to acquire the Finnish sports goods firm Amer. Tencent Holdings is expected to join as a minority investor.
Q.How much in loans has the consortium sought for this acquisition?
How much in loans has the consortium sought for this acquisition?
The consortium has sought at least €3.5 billion in loans to finance the acquisition of Amer. This amount translates to approximately $3.99 billion.
Reader pulse
Is this a smart move for Tencent?
22,863 votes so far