Chinese group buys Finnish sports firm for $5.15b

A consortium led by Chinese companies, including internet giant Tencent, has bought Finnish firm Amer Sports for 4.6 billion euros ($5.15 billion), acquiring leading ski brands Salomon and Atomic as Beijing looks forward to hosting the Winter Olympics in 2022.

Amer Sports said in a statement that the offer, announced in September and launched in December, had been successful with some 94 of its shares sold to the group.

Besides China's Anta Sports, the consortium -- set up to conduct the bid -- includes Tencent, Asian investment fund FountainVest Partners and Anamered Investments which is run by Canadian businessman Chip Wilson.

Anta Sports, estimated to be worth $12.5 billion, has been stepping up efforts to acquire foreign brands.

Amer Sports, ranked among the world's largest sports firms, was founded in 1950 originally a tobacco company, before diversifying in the 2000s.

 

Chinese group buys Finnish sports firm for $5.15b

A consortium led by Chinese companies, including internet giant Tencent, has bought Finnish firm Amer Sports for 4.6 billion euros ($5.15 billion), acquiring leading ski brands Salomon and Atomic as Beijing looks forward to hosting the Winter Olympics in 2022. Amer Sports said in a statement that the offer, announced in September and launched in December, had been successful with some 94 of its shares sold to the group. Besides Chinas Anta Sports, the consortium -- set up to conduct the bid -- includes Tencent, Asian investment fund FountainVest Partners and Anamered Investments which is run by Canadian businessman Chip Wilson. Anta Sports, estimated to be worth $12.5 billion, has been stepping up efforts to acquire foreign brands. Amer Sports, ranked among the worlds largest sports firms, was founded in 1950 originally a tobacco company, before diversifying in the 2000s.