Shares of Puma surged after Anta Sports agreed to acquire a 29% stake from the Pinault family. The deal, valued at 1.5 billion euros (35 euros per share), will make the Chinese sportswear firm Puma's largest shareholder. This investment is aimed at supporting Puma's expansion in mainland China and strengthening Anta's global presence.

This move comes as Puma is undergoing a turnaround under CEO Arthur Hoeld, following a period of challenges in sales and profitability. The stock experienced substantial gains in early trading, reflecting investor optimism. The acquisition could provide a boost to Puma shareholders and potentially attract more suppliers and financial partners.

Anta's chairman, Ding Shizhong, expressed confidence in Puma's management and strategic transformation, stating that the current share price doesn't reflect the brand's long-term potential. While Anta plans board representation, it has ruled out acquiring the rest of the company. The deal could reshape the competitive landscape in the sportswear industry.

What's next for Puma? The market will be watching to see if this infusion of capital translates into improved financial performance and market share gains against rivals like Nike and Adidas. The deal is a bet on the long-term potential of the Puma brand, which has faced pressure from both competitors and broader economic headwinds.