JD Sports sells Footasylum to Germany's Aurelius for €45m

1st Aug 2022 07:28

(Sharecast News) - German asset management firm Aurelius Group has bought retailer Footasylum from JD Sports Fashion for an enterprise value of about €45m.

JD on Monday said the sale was "anticipated to complete in the coming weeks with no conditionality".

The UK-listed retail chain had made a £90m bid for Footasylum, but in autumn 2021 the Competition and Markets Authority (CMA) demanded JD Sports sell the company.

The CMA said the takeover could slash competition and result in a worse deal for Footasylum customers.

Reporting by Frank Prenesti at Sharecast.com

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