HONG KONG • China’s Anta Sports Products Ltd and buyout firm FountainVest Partners Co are in discussions with lenders for at least €3.5 billion (RM16.64 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 recourse facility and another non-recourse loan of at least €1 billion to banks, said the people, who aren’t authorised to speak publicly and asked not to be identified. A total loan size of at least €3.5 billion could make it the biggest for a Chinese outbound acquisition so far this year, data compiled by Bloomberg show.
Shares of Amer rose 2% to €35.10 at 1:18 pm yesterday in Helsinki, after earlier gaining as much as 3%.
Both the potential borrowing facilities for the acquisition are expected to have a five-year tenure, the people said. The financing would only be finalised 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 per share for Amer, valuing the target at about €4.7 billion.
The buyout consortium held meetings in Europe with Amer shareholders in recent weeks to explain the merits of a deal, Bloomberg News has reported.
An external representative for the Chinese buyer consortium declined to comment. Calls to Amer’s media and investor relations departments went unanswered.