JD Sports in talks to sell Footasylum


JD Sports in talks to sell Footasylum

JD Sports Fashion is said to be in exclusive talks with Aurelius Group as it moves to sell off Footasylum in the wake of the CMA’s decision to veto its ownership.

JD Sports had fought the CMA’s ruling over a number of months with its former executive chairman Peter Cowgill at the fore. Both JD Sports and Footasylum had been fined for breaching rules of conduct in the negotiation for the sale.

There has yet to be an update on the progress of the JD Sports and Aurelius’ sale negotiations but it is expected that JD Sports will be forced to accept considerably less than it paid for Footasylum in order to get the matter concluded.

 

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