Chinese sportswear company Anta Sports Products has made an offer to purchase 29% of Puma from France’s Pinault family, Reuters reports.
The bid was made a few weeks ago, and Anta has secured financing for the deal if it proceeds, two sources added. However, one source said negotiations have stalled.
Artemis, the investment vehicle of Francois-Henri Pinault, chairman of Kering, which owns Gucci, acquired the Puma stake in 2018 when Kering shifted to focus exclusively on luxury. Artemis and Puma declined to comment, and Anta did not respond immediately.
Puma shares jumped as much as 9% following the news...