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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Jd Sports Fashion Plc | LSE:JD. | London | Ordinary Share | GB00BM8Q5M07 | ORD 0.05P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.90 | 3.27% | 123.20 | 123.30 | 123.40 | 123.70 | 119.85 | 119.85 | 6,812,926 | 16:35:06 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Sport Gds Stores, Bike Shops | 10.54B | 538.8M | 0.1040 | 11.86 | 6.18B |
TIDMJD.
RNS Number : 6570I
JD Sports Fashion Plc
08 August 2023
8 August 2023
JD Sports Fashion Plc
Marketing Investment Group S.A. - minority acquisition
JD Sports Fashion Plc ('JD' or the 'Group') today announces that it has exercised its rights under a call option and entered into a conditional agreement to acquire the outstanding 40% minority stake of Marketing Investment Group S.A. ('MIG' or 'Company') from its minority shareholders and will become the 100% sole owner of MIG.
JD originally acquired a 60% stake in Poland-based MIG in April 2021, and since then has established the JD fascia in five countries across Central and Eastern Europe operating 18 JD stores. MIG also continues to trade profitably through Sizeer and other complementary fascias, selling a wide range of sports footwear, apparel and equipment from leading global brands. In the year ended 31 January 2023, MIG generated revenues of approximately GBP270 million.
Completion of the acquisition is subject to customary competition approval by the European Commission and anticipated no later than Q4 2023.
Régis Schultz, CEO of JD, said:
"Acquiring the remaining 40% stake in MIG allows us to accelerate the development of JD in Central and Eastern Europe, the strong foundations for which have been established alongside the outgoing shareholders. Increasing JD's presence in the region through new store openings and further investment in our omnichannel capabilities is a key part of the strategic growth plan set out at our Capital Markets Day presentation. The complementary Sizeer brand provides a strong platform for the MIG business and the JD brand has evidenced strong initial traction with the consumer, which we will continue to build upon.
"We look forward to closing the transaction and continuing an exciting journey with the local management team."
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000 Régis Schultz, Chief Executive Officer Neil Greenhalgh, Chief Financial Officer Theresa Casey, Legal Counsel & Company Secretary Mark Blythman, Director of Investor Relations FGS Global Tel: 0207 251 3801 Rollo Head Jenny Davey James Thompson
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(END) Dow Jones Newswires
August 08, 2023 08:00 ET (12:00 GMT)
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