Disposal of Footasylum Limited

RNS Number : 3451U

JD Sports Fashion Plc

01 August 2022

 

1 August 2022

JD Sports Fashion Plc

Disposal of Footasylum Limited

JD Sports Fashion Plc ('JD' or the 'Group'), one of the world's leading retailers of sports, fashion and outdoor brands, announces that on 29 July 2022, it exchanged contracts to sell Footasylum Limited ('Footasylum') and its associated subsidiaries to AURELIUS Group ('AURELIUS') for £37.5 million.

The sale has been agreed in accordance with the final undertakings issued by the Competition and Markets Authority ('CMA') on 14 January 2022, following its decision to prohibit JD's acquisition of Footasylum last year. JD has cooperated with the CMA throughout the divestment process, including ensuring that the purchaser was acceptable to the CMA and met certain key criteria set out within the final undertakings. The sale is anticipated to complete in the coming weeks with no conditionality.

Kath Smith, Interim CEO of JD, said:

"I would like to sincerely thank the teams at AURELIUS and Footasylum who worked collaboratively with the CMA to agree this transaction. We wish both parties every success for the future."

Enquiries:

JD Sports Fashion Plc    Tel: [phone]

Kath Smith, Interim Chief Executive Officer

Neil Greenhalgh, Chief Financial Officer

FGS Global    Tel: [phone]

Rollo Head

Jenny Davey

James Thompson

 

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