Race for Puma: Anta and Rivals Eye Acquisition Amid Sportswear Boom

Chinese sportswear company Anta and others are exploring the acquisition of German brand Puma. Anta is considering partnering with private equity for the bid, while Li Ning and ASICS may also show interest. Puma's major shareholder Artemis is weighing options for its stake, valued at 2.52 billion euros.

Chinese sportswear giant Anta Sports Products is considering a potential takeover of German brand Puma, according to a report by Bloomberg News. The Hong Kong-listed company is reportedly collaborating with an adviser to evaluate a bid for Puma, with the possibility of partnering with a private equity firm.

Shares of Puma saw a 12% rise in premarket indications following the news, although the company declined to comment when contacted by Reuters. Li Ning, another Chinese sportswear firm, may also be a contender, as it explores financing options and a possible bid for Puma. Japanese brand ASICS has been mentioned as a potential interested party as well.

Puma's significant shareholder Artemis is contemplating all options for its 29% stake, despite previously indicating reluctance to sell at market value. Meanwhile, Puma's CEO, Arthur Hoeld, has laid out a turnaround strategy in response to plummeting share prices and competitive pressures in the sportswear market.

(With inputs from agencies.)