A consortium led by sporting goods manufacturer Anta has officially announced the biggest overseas takeover of the year out of China, with a 4.6 billion euro (US$5.2 billion) tender offer for Amer of Finland.

The tender offer is expected to be published on 20 December, and is expected to run for around ten weeks.

Founded in 1994, and listed on the Hong Kong Stock Exchange since 2007, Anta has a market capitalization of around US$12.5 billion. Together Anta and Amer would create the global number three in the sportswear industry - behind Nike and Adidas.

Amer Sports owns internationally recognized brands including Salomon, Arc'teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor. According to an Anta presentation, the Amer Sports Group's business is balanced by its broad portfolio of sports and products and a presence in all major markets. Shares of Amer Sports are listed on the Nasdaq Helsinki Stock Exchange.

Anta is China's largest domestic sporting goods manufacturer, and its brands include Kingkow, Sprandi, Kolon Sport and Fila.

Anta plans to operate Amer as an independent unit with a separate board. The deal is supported by Amer management. According to the Anta presentation, 7.91% of Amer shares have already been pledged to the tender offer.

The consortium comprises Anta Sports (58%), Anamered Investments (21%) and FV Fund (21%). Tencent will be one of the investors via FV Fund, which is an investment vehicle managed by FountainVest Partners, a leading private equity firm. FountainVest Partners is backed by some of the largest sovereign wealth funds and public pensions plans around the world, with assets under management of close to US$5 billion.