China's Anta Sports to become top Puma shareholder

Anta will buy 43 million shares for 35 euros apiece from the French billionaire Pinault family's Artemis group, the statement to the Hong Kong exchange said, giving it a 29 percent stake. The price is a more than 60 percent premium to Puma's last close, according to Bloomberg data, and values the deal at 1.51 billion euros. Anta said in the statement that the stake would "further enhance its presence and brand recognition in the global sporting goods market", including China. "We believe Puma's...