JD Sports has exchanged contracts to sell Footasylum and its associated subsidiaries to Aurelius Group in a £37.5 million deal.
The move follows a ruling by the Competition and Markets Authority that JD should offload Footasylum, which it purchased in 2019, as the combination of the two companies would lead to a worse deal for consumers.
In statement this morning, JD Sports said its had co-operated with the CMA throughout the divestment process, including ensuring that the purchaser was acceptable to the CMA and met certain key criteria. The sale is expected to complete in the coming weeks with no conditionality.
