ANTA SPORTS(HK:02020) Ge Long Hui·2026-01-28 05:37Core Viewpoint - Morgan Stanley reports that Anta Sports plans to acquire approximately 29.06% stake in Puma for about €1.5 billion, positioning the transaction as a strategic investment without intentions of privatizing Puma at this stage [1] Group 1: Transaction Details - The acquisition is valued at a multiple of 0.8 times the projected sales for 2027, which Morgan Stanley considers reasonable given Puma's brand value [1] - Anta's investment is expected to enhance its existing brand portfolio due to Puma's strong brand recognition and revenue scale of approximately €9 billion [1] Group 2: Market Impact - Puma has significant business exposure in Europe, Latin America, Africa, and India, regions where Anta currently has limited market presence [1] - The transaction is anticipated to positively contribute to Anta's global expansion efforts [1]