JD Sports sells Footasylum to Germany’s Aurelius for 45 mln euros

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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 companies 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. ($1 = 0.9783 euros) ($1 = 0.8209 pounds) (Reporting by Radhika Anilkumar in Bengaluru; Editing by Shounak Dasgupta)

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