France’s billionaire Pinault family has agreed a €1.5bn deal to sell its entire stake in sportswear brand Puma to Chinese group Anta Sports.
Anta will pay €35 a share for the 29.06 per cent stake in Puma held by Artemis, the investment vehicle of the Pinault family whose portfolio includes a controlling stake in luxury group Kering. Puma’s shares closed at €21.63 on Monday.
The sale, which was announced in a Hong Kong stock exchange filing on Tuesday, will make the Chinese company Puma’s largest shareholder.
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