China's Anta Sports is to become the largest single shareholder in German sportswear group Puma, while ruling out a takeover bid and pledging to preserve the brand's independence.

FUZHOU, Jan. 27 (Xinhua) -- China's sportswear group Anta Sports on Tuesday said it will buy a 29.06 percent stake in Puma SE for 1.5 billion euros (1.6 billion U.S. dollars), becoming the German brand's largest single shareholder.

The stake will be acquired from the Pinault family's investment firm Groupe Artemis, as Anta moves to expand its global portfolio and footprint. Anta said it has no plans to make a takeover offer for the remainder of Puma.

The transaction is expected to close by the end of 2026, subject to regulatory approvals. Anta said it will fund the purchase entirely from internal cash reserves.

"This acquisition makes Anta Sports the largest shareholder of Puma and marks a major step forward in our globalization strategy," Anta Chairman Ding Shizhong said.

"Puma is an iconic global brand with substantial heritage, and we look forward to learning from each other and unlocking its full potential. This will further accelerate Anta Sports' globalization and help drive the next chapter of growth for the global sports market, including China," Ding added.

Anta owns international brands including Fila, Descente, Kolon Sport and Jack Wolfskin, and is the largest shareholder in Amer Sports, whose portfolio includes Arc'teryx, Salomon, Wilson, Peak Performance and Atomic.

Anta said it aims to support Puma's management and strategy while preserving the German group's brand autonomy. The company said it plans to seek representation on Puma's supervisory board and explore further collaboration opportunities.

"We believe Puma's share price does not fully reflect the brand's long-term potential," Ding said. "We hope to build strong trust, work together at arm's length and support the brand's ongoing revival."

The move strengthens Anta's presence in global sports categories where Puma holds strong positions, particularly football, running and motor sports. Puma, headquartered in Herzogenaurach, employs around 20,000 people and distributes products in more than 120 countries and regions.