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Business deals

Descente's Chinese shareholder backs Itochu in takeover fight

Trading house's role a 'plus' for sportswear maker, Anta Sports chief says

Anta Sports Products is China's largest homegrown sportswear retailer with over 10,000 outlets.   © Reuters

HONG KONG -- Japanese sportswear maker Descente's second-largest shareholder has decided to support Itochu in an increasingly heated takeover battle for the company, arguing that a tighter grip by the Tokyo trading house will boost its business.

"If Descente transforms according to Itochu's plan, shareholders will benefit," said Ding Shizhong, chairman and CEO of China's Anta Sports Products, explaining his support. 

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