JD Sports Sells Footasylum For £37.5M After Antitrust Order
By Najiyya Budaly (August 1, 2022, 12:55 PM BST) -- Athletics fashion retailer JD Sports said on Monday that it has disposed of Footasylum to European asset manager Aurelius Group for £37.5 million ($45.8 million) after the Competition and Markets Authority ordered the sale of the rival brand.
JD Sports Fashion PLC, which is listed on the London Stock Exchange, said it exchanged contracts on Friday to sell Footasylum Ltd. and its subsidiaries to Aurelius, based in Germany.
The CMA ordered JD Sports in November to sell off Footasylum, which it bought in 2019 for £90 million, after deciding that the union harmed competition in the so-called sports athleisure industry.
"The sale has been agreed...
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