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Finland's Amer Sports receives €4.66B approach from Anta, FountainVest Partners

Finnish sports equipment company Amer Sports Corp. on Sept. 11 confirmed that it received a nonbinding preliminary indication of interest in an all-cash buyout from a consortium comprising Chinese rival Anta Sports Products Ltd and Hong Kong-based private equity firm FountainVest Partners.

Based on the quantity of outstanding stock, the indicative offer price of €40 per share would value Amer at approximately €4.66 billion should the deal go ahead.

The offer from the consortium is subject to a number of conditions including due diligence, availability of financing, a recommendation from Amer's board of directors and approval from at least 90% of shareholders.

Amer has yet to begin discussions with Anta and FountainVest. "At this time, Amer Sports is not engaged in any negotiations with the consortium and has made no decisions in respect of the indication of interest," the company said in a statement.

On Sept. 5, Amer announced a new strategy that would reposition its portfolio toward areas of faster growth, higher profitability and better asset efficiency. As part of the strategy, Amer said it would place its Mavic cycling business, which accounts for about 3.5% of group sales, under review. The company maintained its outlook for 2018.