The company’s shares, which have been near their lowest levels in a decade, have surged 9% after reports of the deal
Anta Sports Products, the biggest sportswear retailer in China, will acquire a 29% stake in the German Puma brand, which would make it the company’s biggest shareholder. The iconic company was struggling before the deal, with its shares trading near their lowest levels in a decade.
The Chinese firm will purchase its stake from the Pinault family, one of the wealthiest in France. They control the luxury conglomerate Kering, which owns brands like Bottega Veneta, Gucci, and Yves Saint Laurent. The Pinaults had initially acquired a…
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