(Yicai Global) Dec. 10 -- A group led by Chinese athletic wear company Anta Sports Products has signed an agreement with Finnish sporting goods firm Amer Sports to buy all its shares for about EUR4.6 billion (USD5.3 billion). 

This is the largest acquisition in China's sportswear sector to date, and Chinese internet giant Tencent Holdings is also participating in it.

The final purchase price is EUR40 (USD45.7) per share, which is the same as the offer made by the Fujian-based firm on Sept. 12, but nearly 39 percent higher than the EUR28.79, Amer Sports [CPH:AMEAS] closing price on the Helsinki Stock Exchange in Finland on Sept. 10. Amer Sports closed at EUR38.37 per share on Dec. 7 with a market value of about EUR4.4 billion.

Shenzhen-based Tencent will cut in on the acquisition indirectly by investing in Anta sports cohort in the deal, Chinese private equity buyout firm FountainVest Partners, and the transaction is expected to wrap up in next year's second quarter, Yicai Global has learned.

The investors' group will let Amer Sports operate independently under serving President and Chief Executive Heikki Takala and his team, Anta Sports said in a statement to Hong Kong Exchanges and Clearing on Dec. 7, adding it will keep the company's headquarters in Helsinki.

Amer Sports is the owner of popular brands such as Wilson for tennis rackets and Salomon for hiking shoes as well as Arc'teryx for outdoor sportswear.

Editor: Ben Armour