Britain’s largest sportswear retailer JD Sports Fashion will sell Footasylum to German asset management firm Aurelius Group for an enterprise value of about 45 million euros ($46 million), the company said on Monday.
Britain’s competition regulator last year ordered JD Sports to sell Footasylum after it found that the combination could lead to a “worse deal” for consumers.
JD Sports, which sells brands such as Nike, Adidas and Puma in its physical and online stores, bought Footasylum in 2019 for 86 million pounds ($102.9 million) in its quest for dominance in the sportswear market.
Sky News was the first to report in July that JD was in exclusive talks to sell Footasylum to Aurelius.
Source: Reuters.com