Chinese Giant Buys Big Piece of Puma: Anta Sports, a Chinese sports company has bought almost thirty percent of Puma. Puma is a German brand that makes sneakers and sports clothes and gear.
The deal that Anta Sports made with Puma is worth one point eight billion dollars. One point eight billion dollars is an amount of money for Anta Sports to spend on Puma. Anta Sports buying Puma is a deal because Puma is a well known brand.
Anta said it will use its money to pay for the Puma shares. The deal should be finished by the end of 2026.
Anta now owns a piece of Puma.. Anta does not plan to take over the whole Puma company.
Anta wants to work with Puma. Anta and Puma will learn from each other. Anta wants to keep Pumas brand and identity strong.
Ding Shizhong, the boss of Anta Sports said that this deal makes Anta Sports the largest shareholder of Puma.
He thinks that Anta Sports and Puma will work together to help each other get bigger in China and, in countries.
Ding Shizhong also said that the price of Puma stock does not show how good the Puma brand really is.
Anta Sports believes that Puma has a lot of potential to grow and get even bigger.
Ding Shizhong thinks that Puma and Anta Sports can do things together.
Anta Sports began in 1991. They have a lot of sports brands, such as Fila, Descente and Jack Wolfskin. Anta Sports is also the owner of Amer Sports. Amer Sports has brands like Salomon, Wilson and Arc’teryx. Anta Sports is really big, in the sports world because of all these brands.
Puma has had a tough year. The company said that back in October its sales had dropped by than 10 percent. Now the new boss, Arthur Hoeld is trying to turn things around for Puma. He wants to make Puma better because Puma is facing some problems like having too many products in stock and slow sales, in certain areas. Puma needs to get on track and Puma is counting on Arthur Hoeld to make that happen for Puma.
For months people were trying to figure out what would happen to Puma. They thought maybe Adidas or Li Ning or Asics would buy Puma.. Now we know that Puma is the one that Anta Sports is buying a big part of. Puma is going to be owned by Anta Sports for the part. People are talking about Puma and what this means for Puma.
So, Puma is getting a new friend in Anta Sports, and together, they hope to make the brand even stronger all around the world!
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