ANTA SPORTS PRODUCTS’ proposal to acquire a 29.06 per cent stake in global sportswear company PUMA has received approval from the Competition Commission.
A post from the regulator on X said: “CCI (Competition Commission of India) approves acquisition of certain shareholding in PUMA SE by Ancat Holding GmbH.
“The proposed combination involves the acquisition by Ancat Holding GmbH (Ancat) (an indirect wholly-owned subsidiary of ANTA) of 29.06 per cent of the issued and outstanding share capital of PUMA SE (PUMA) by way of a secondary share purchase.” Ancat is an acquisition vehicle with no business operations in India or elsewhere.
ANTA, which designs, manufactures, and sells sports footwear, apparel, and accessories, announced in January that it had reached a share purchase agreement with Groupe Artemis, the investment company of the Pinault family, to acquire a 29.06% stake in PUMA SE for €1.5 billion. Upon completion, ANTA will become PUMA’s largest shareholder.
PUMA has a presence across football, running, training, basketball, and motorsport, with reach across Europe, Latin America, Africa, and India. Groupe Artemis owns Kering, whose brand portfolio includes Gucci, Bottega Veneta, Yves Saint Laurent, and Balenciaga.
