The Competition Commission of India (CCI) has approved acquisition of certain shareholding in PUMA SE by Ancat Holding GmbHm.

The proposed combination involves the acquisition by Ancat Holding GmbH (Ancat) (an indirect wholly owned subsidiary of ANTA) of 29.06% of the issued and outstanding share capital of PUMA SE (PUMA) by way of a secondary share purchase.

Ancat is an acquisition vehicle and does not carry on any business activities, whether in India or outside. ANTA is principally engaged in the research and development, design, manufacturing, marketing and sales of sports products including footwear, apparel and accessories.

PUMA is a global sportswear and athletic footwear company engaged in the design, development, marketing and sale of a broad range of sports and sports lifestyle products, including footwear, apparel and accessories, directly and through its group entities

Detailed order of the Commission will follow.

Competition approval for share acquisition in PUMA SE by Ancat Holding GmbH through a secondary purchase. Competition approval was granted for the acquisition of certain shareholding in PUMA SE by Ancat Holding GmbH, an indirect wholly owned subsidiary of ANTA. The proposed combination involved Ancat's secondary purchase of 29.06% of the issued and outstanding share capital of PUMA SE. Ancat was described as an acquisition vehicle with no business activities, while ANTA and PUMA were engaged in sports products and sportswear businesses.