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December 7, 2018 8:58 AM
Chinese Group to Buy Wilson Tennis Racket Maker for $5.2 Billion
Posted by Staff
Bloomberg:

A Chinese investor group led by Anta Sports Products Ltd. reached a $5.2 billion deal to acquire the maker of Wilson tennis rackets and Louisville Slugger baseball bats, as it seeks to bring high-end athletic equipment to China’s wealthy consumers.

The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros a share in cash, or about 4.6 billion euros. The deal is the largest struck by a Chinese acquirer for a European asset since China Investment Corp. agreed to buy Logicor Europe for almost $14 billion in June 2017, according to data compiled by Bloomberg.

Significant minority investors in the consortium also include Chip Wilson, the billionaire founder of yoga-apparel retailer Lululemon Athletica Inc., and Chinese internet giant Tencent Holdings Ltd.

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