JD Sports Fashion, the British sportswear retail, plans to sell Footasylum to German investment firm Aurelius Group for around £38 million ($46 million), concluding a long saga with United Kingdom’s anti-competition watchdog.
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.
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