Chinese Sportswear Giants Eye Puma Acquisition: A Turnaround in the Making?

Chinese sportswear companies Anta Sports and Li Ning are considering acquiring struggling German brand Puma. Puma's market value has halved this year, posing challenges in negotiations. The Pinault family, controlling Artemis, holds a 29% stake in Puma. Arthur Hoeld is leading Puma's strategic turnaround.

Anta Sports Products and Li Ning, two major Chinese sportswear companies, are exploring a takeover bid for German sportswear brand Puma, according to insider sources. This move comes as Puma's market value has halved this year, complicating potential deal valuations with its largest shareholder, Artemis.

There is speculation that Anta and Li Ning may collaborate with private equity funds for this acquisition. Following reports of their interest, Puma's shares surged by 15%. Disclosure also suggests that Japanese sportswear firm ASICS might be interested in a bid.

Puma, with shares currently down 56% from the beginning of the year, declined to comment on any potential offer. The company's new CEO, Arthur Hoeld, is implementing a turnaround strategy amidst declining sales, increased competition, and the challenges posed by U.S. tariffs.

(With inputs from agencies.)