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Birmingham Post
Birmingham Post
Business
Jon Robinson

JD Sports sells Footasylum to German group for almost £40m

JD Sports Footasylum CMA Frasers Group

JD Sports has agreed to sell Footasylum to an asset management group in Germany for almost £40m.

The Greater Manchester-headquartered retail giant has exchanged contracts with Aurelius Group after the Competition and Markets Authority ordered it to dispose of the company.

In a statement issued to the London Stock Exchange, JD Sports said it 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".

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