The business will be sold to German asset management firm Aurelius for £37.5m - a substantial loss on the £90m JD Sports paid for it three years ago
The UK's largest sportswear retailer JD Sports Fashion is to sell its Footasylum chain following a long battle with the country's competition watchdog.
The business will be sold to German asset management firm Aurelius for £37.5m - a substantial loss on the £90m JD Sports paid for it three years ago.the two parties were in exclusive talks over the saleJD Sports was forced to sell Footasylum after its takeover of the chain was blocked by the Competition and Markets Authority.
The regulator had ruled last November that the merger could lead to less choice and a"worse deal" for shoppers,.for sharing commercially sensitive information despite an order not to do so. JD Sports boss Peter Cowgill had met his Footasylum counterpart in a Bury car park to exchange information, according to a video seen by The Sunday Times.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Irish sports asked to house Ukrainian refugeesA number of Irish sporting bodies have been contacted to see if there is accommodation available for Ukrainian refugees at their venues
Read more »
'Unexplained' death leads to sports complex closure in East KilbrideThe sports complex would still be closed this morning.
Read more »
Mass. Lawmakers Reach Agreement on Sports Betting LegislationThe Sports Betting Conference Committee has reached an agreement on legislation to legalize sports betting in Massachusetts, according to a tweet early Monday from House Speaker Ron Mariano. The legislation would allow for wagering on both professional and collegiate sports in the Bay State, according to Speaker Mariano’s tweet. The Speaker thanked other lawmakers for “recognizing the incredible economic opportunity…
Read more »
Police probe into unexplained death at East Kilbride Sports ClubThe 58-year-old man collapsed in an East Kilbride Sports Club car park on Saturday night.
Read more »
What is the point of the Commonwealth Games?The Commonwealth itself is struggling for relevance—some people see it as a colonial relic. If its future looks shaky, the prospects for the games may be even worse
Read more »
Greggs: Bakery fails in bid for 24-hour Leicester Square storeA council says the chain's plans for its West End store to stay open all night are 'half-baked'.
Read more »