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