By Ian Walker
JD Sports activities Vogue PLC mentioned Thursday that it’s promoting Sports activities Limitless Retail BV to its 50.02%-owned Spanish subsidiary Iberian Sports activities Retail Group SL for 16.5 million euros ($20.2 million).
The game-goods retailer mentioned that it believes Iberian Sports activities Retail is best targeted on the sporting sector than the core JD model, and due to this fact higher positioned to drive development and returns for the enterprise.
Nevertheless, JD Sports activities will proceed to make strategic selections over the way forward for Sports activities Limitless, it mentioned.
The sale is anticipated to finish on June 30.
“By consolidating our sporting items companies beneath the ISRG umbrella, we’re completely assured that the switch of SUR [Sports Unlimited] to ISRG [Iberian Sports] will convey long-term improvement alternatives to each the crew at SUR and their worldwide model companions,” Chairman Peter Cowgill mentioned
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