China’s Anta Sports in talks for $4b loan to finance Finnish acquisition

Various models from the Redster collection of skis stand on display at the Atomic Austria GmbH, a unit of Amer Sports Oyj, pro center manufacturing facility in Altenmarkt im Pongau, Austria. Photographer: Lisi Niesner/Bloomberg

China’s Anta Sports Products Ltd. and buyout firm FountainVest Partners Co. are in discussions with lenders for at least 3.5 billion euros ($4 billion) in loans to back a potential acquisition of Finland’s Amer Sports Oyj, people familiar with the matter said.

The investor group has proposed a 2.5 billion-euro recourse facility and another non-recourse loan of at least 1 billion euros to banks, said the people, who aren’t authorized to speak publicly and asked not to be identified. A total loan size of at least 3.5 billion euros could make it the biggest for a Chinese outbound acquisition this year, data compiled by Bloomberg show.

Shares of Amer rose 0.6 percent to 34.62 euros at 6:07 p.m. Thursday in Helsinki, after earlier gaining as much as 3 percent.

Both the potential borrowing facilities for the acquisition are expected to have a five-year tenor, the people said. The financing would only be finalized if the Anta-led group proceeds to make a binding bid for Amer, according to the people.

Anta said last month it had joined with FountainVest to make an indicative offer of 40 euros per share for Amer, valuing the target at about 4.7 billion euros. The buyout consortium has been progressing in its negotiations over the potential takeover, Bloomberg News reported earlier this month.

An external representative for the Chinese buyer consortium declined to comment. Calls to Amer’s media and investor relations departments went unanswered.

Bloomberg

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.