Chinese firm to become top shareholder at Puma

The company’s shares, which have been near their lowest levels in a decade, have surged 9% after reports of the deal

Anta Sports Products, the biggest sportswear retailer in China, will acquire a 29% stake in the German Puma brand, which would make it the company’s biggest shareholder. The iconic company was struggling before the deal, with its shares trading near their lowest levels in a decade.

The Chinese firm will purchase its stake from the Pinault family...