Frasers Group sells Sports Direct Malaysia interest for $150m
Frasers Group has agreed to sell its interest in Sports Direct Malaysia to MAP Active for $150 million.
As part of the deal, the group will enter into a long-term agreement under which MAP Active will grow and develop Sports Direct in Malaysia, with a continuing income stream payable to Frasers Group.
Subscribe to TRBThe move builds on the group’s existing partnership with MAP Active across Indonesia, the Philippines, Thailand, Vietnam and Cambodia.
Frasers Group said MAP Active’s established infrastructure, local expertise and portfolio of distributed brands will further accelerate the growth of Sports Direct in the region, supporting its long-term ambition of opening more than 350 stores.
Michael Murray, chief executive of Frasers Group, said: “MAP Active is a valued strategic partner, and this transaction further deepens our relationship as we accelerate Sports Direct’s growth across Southeast Asia.
“Together, we are creating a strong platform to deliver our ambitious growth plans. I look forward to continuing to work with the MAP Active team to unlock further value.”
VP Sharma, group chief executive of PT Mitra Adiperkasa Tbk, said: “We are delighted to be strengthening our relationships with Frasers Group through this transaction.
“Leveraging on our local expertise and regional retail network, we look forward to offering more of Sports Direct’s world-class offerings to our customers across the region – and unlocking new opportunities that create long-term value for both companies.”
