ANTA Sports Products Limited has obtained Government approval under Press Note 3 of 2020 in connection with its proposed indirect acquisition of 29.06% of the issued and outstanding share capital of PUMA SE.
The transaction required prior Government approval under the PN3 framework, which regulates foreign investment into India involving investors or beneficial owners from countries sharing a land border with India.
Khaitan & Co advised ANTA Sports on obtaining the PN3 approval for this transaction.
The transaction was led by Atul Pandey (Partner) with support from Hirak Mukhopadhyay (Partner) and Varun Yadav (Principal Associate).
As part of the transaction, ANTA will also indirectly acquire a 29.06% interest in PUMA’s Indian subsidiary, Puma Sports India Private Limited.
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