ANTA Sports Products Limited - PN3 approval

Khaitan & Co advised ANTA Sports Products Ltd (“ANTA”) in obtaining Government approval under Press Note 3 of 2020 (“PN3”) in connection with its proposed indirect acquisition of 29.06% of the issued and outstanding share capital of PUMA SE (“PUMA”). As part of the transaction, ANTA will also indirectly acquire a 29.06% interest in PUMA’s Indian subsidiary, Puma Sports India Pvt Ltd.

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.

The Firm regularly advises global clients on complex inbound investments into India, including strategic acquisitions and investments requiring approval under the PN3 regime.