HELSINKI (BRAIN) — Amer Sports on Thursday confirmed that it’s continuing to explore a sale to a Chinese sports company and an Asian private equity firm.
Amer said Nasdaq Helsinki, the public market where its stock is traded, requested it to make a public statement confirming the negotiations after Bloomberg reported that the suitor, Anta Sports Products, was making progress in its bid.
Amer said there have been “certain discussions” between Amer and the consortium of Anta and Fountainvest Partners and their advisers, “intended to ascertain whether there is a basis to commence a more formal process to facilitate a possible recommended transaction.”
Amer is the owner of Mavic and Enve; separately from the Anta bid, Amer has said it is considering whether to sell off the two bike brands. Amer’s other brands include Salomon, Arc’teryx, Peak Performance, Atomic, Suunto, Louisville Slugger, Wilson and Precor.
In its statement Thursday, Amer Sports reminded shareholders of a long list of steps that would have to be taken before a sale could be completed, including approval from respective boards of directors, available financing, approval by 90 percent of Amer’s shareholders and regulatory approvals.
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Author: Steve Frothingham
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