Puma Should Benefit from Positive Anta Sports's Involvement
Dow Jones
Yesterday
1212 GMT - Puma looks set to capitalize on China's Anta Sports partnership, after the latter reported a positive set of numbers for the first half, analysts at Citi write in a note. Earlier this year, Anta Sports agreed to acquire a stake in the German sports company for $1.79 billion, making it the biggest shareholder. The acquisition is expected to complete later this year. The results highlight Anta's continued strong track record of brand-building and operational execution, "reinforcing our confidence that Anta's involvement can help to drive top-line momentum for Puma in the China region," the analysts say. The print highlights the strengths Anta might well bring as a strategic partner, they add. Puma's stock jumps 3.3%.
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