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JD Sports in talks to sell Footasylum chain?

JD Sports is reportedly in talks to sell its Footasylum chain to a private equity firm following a watchdog probe

JD Sports has reportedly opened talks to sell its Footasylum chain to a private equity firm.

The retailer bought the streetwear brand for £86m in 2019 but was forced to divest after the competition watchdog ruled the takeover could lead to a “worse deal” for consumers.

JD is trying to negotiate a sale to Aurelius Group, according to Sky News.

Signing up?: The Competition and Markets Authority has ordered JD to sell Footasylum

JD, who declined to comment last night, was ordered to sell Footasylum by the Competition and Markets Authority (CMA).

It successfully appealed the initial decision to block the takeover, but the CMA issued a final sale notice last November.

JD boss Peter Cowgill and Footasylum’s Barry Bown met last summer and were revealed to have discussed confidential commercial information.

As a result, the companies were fined a total of £4.7m earlier this year.

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JD Sports in talks to sell Footasylum chain?

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