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JD Sports in talks to sell its Footasylum chain?

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JD Sports reportedly enters talks to sell its Footasylum chain to a personal equity firm after watchdog probe

JD Sports has reportedly entered talks to sell its Footasylum chain to a personal equity firm. 

The retailer bought the streetwear brand for £86m in 2019 but is being forced to get rid of it after the competition watchdog ruled that the takeover may lead to a ‘worse deal’ for consumers. 

JD is attempting to negotiate a sale to Aurelius Group, in response to Sky News. 

Signing off?: JD was ordered to sell Footasylum by the Competition and Markets Authority

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 dam the takeover however the CMA issued a final notice to sell last November. 

JD boss Peter Cowgill and Footasylum’s Barry Bown met last summer and were found to have discussed commercially sensitive information. 

Because of this the businesses were fined a complete £4.7m earlier this 12 months.

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