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JD Sports Fashion Plc, a UK-based retailer of sports, fashion and outdoor brands, has announced that on June 30, 2021, it formally completed the disposal of Netherlands-based Sports Unlimited Retail BV (SUR) to Iberian Sports Retail Group (ISRG). Spain-based ISRG is a subsidiary of JD Sports as the latter owns 50.02 per cent stake in it.SUR operates under the Aktiesport and Perry Sport fascias and was previously a wholly owned company.
The deal is valued at €16.5 million, which ISRG funded from existing cash balances and resources.
JD Sports said that as ISRG is more focused on the sporting goods sector than the core JD brand, the management team of ISRG will be better placed to drive growth and higher returns in SUR in the long term. However, as the parent to ISRG, JD will continue to make strategic decisions regarding the company's future.
Fibre2Fashion News Desk (KD)
JD Sports Fashion Plc, a UK-based retailer of sports, fashion and outdoor brands, has announced that on June 30, 2021, it formally completed the disposal of Netherlands-based Sports Unlimited Retail BV (SUR) to Iberian Sports Retail Group (ISRG). Spain-based ISRG is a subsidiary of JD Sports as the latter owns 50.02 per cent stake in it.