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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD

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China's Anta Sports-led group buying Finland's Amer Sports for $5.2 billion

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12/07/2018 | 05:05am EDT
FILE PHOTO - The logo of Anta Sports is seen on its product during a news conference in Hong Kong

(Reuters) - A consortium led by China's Anta Sports made an offer to acquire Finland's Amer Sports in a deal that values the company at 4.6 billion euros ($5.23 billion), the Chinese firm said on Friday.

The consortium, which includes Chinese tech giant Tencent Holdings Ltd, has offered 40 euros per share in cash for the maker of Wilson tennis racquets and branded outdoor gear.

The deal represents a premium of 13.6 percent to Amer's last close and has been unanimously recommended by the board of the Helsinki-based firm.

The consortium plans to operate Amer Sports independently from Anta, with a separate board of directors, Anta said in a statement.

Shareholders representing in aggregate about 7.91 percent stake in Amer Sports have already accepted the deal, it added.

Others in the consortium include Chinese private equity firm Fountainvest Partners and Anamered Investments, which is owned by Canadian billionaire Chip Wilson, founder of yoga apparel company Lululemon Athletica Inc .

Reuters on Thursday reported that Amer Sports is close to signing a 4.6 billion euro deal to be taken over by a consortium led by Anta Sports, citing a person with direct knowledge of the transaction.

(Reporting by Aditya Soni in Bengaluru; Editing by Muralikumar Anantharaman)

Stocks mentioned in the article
ChangeLast1st jan.
AMER SPORTS OYJ 0.62% 40.27 Delayed Quote.4.30%
ANTA SPORTS PRODUCTS LTD 1.11% 50.25 End-of-day quote.34.00%
LULULEMON ATHLETICA INC. -0.46% 175.72 Delayed Quote.45.16%
TENCENT HOLDINGS LTD -0.64% 339 End-of-day quote.7.69%
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Financials (CNY)
Sales 2019 398 B
EBIT 2019 120 B
Net income 2019 93 442 M
Finance 2019 68 659 M
Yield 2019 0,33%
P/E ratio 2019 30,90
P/E ratio 2020 25,07
EV / Sales 2019 7,04x
EV / Sales 2020 5,39x
Capitalization 2 870 B
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Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 371  CNY
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
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