Inside the outdoor industry

Chinese giant joins Amer talks

Social media firm joins Anta-lead consortium

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Chinese social media giant Tencent Holdings is in talks to join a Chinese investor group pursuing a takeover of Finland’s Amer Sports.

Tencent, China’s largest social-media company, is considering joining the consortium led by Anta Sports  as a minority investor. The buyer group is also in talks with other potential minority partners, though no firm agreements have been reached.

In September Anta said it had joined with Chinese buyout firm FountainVest Partners to make an indicative offer of €40 per share for Amer, valuing the target at about €4.7 billion ($5.3 billion). The consortium has been progressing in the potential takeover and seeking at least €3.5 billion in loans, Bloomberg News reported last month.

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