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Sports Direct confirms £120 million headquarters sale and leaseback deal

Sports Direct confirms £120 million headquarters sale and leaseback deal
FILE PHOTO: A company logo is seen outside a Sports Direct store in Vienna, Austria, April 28, 2016. REUTERS/Leonhard Foeger   -   Copyright  Leonhard Foeger(Reuters)
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LONDON (Reuters) – Sports Direct, the sportswear retailer owned by billionaire Mike Ashley, confirmed the sale of the freehold to its Shirebrook logistics centre to Kwasa Logix Sportivo for just over 120 million pounds in cash on Tuesday.

Sports Direct, which will take a 15-year lease on the property, said the proceeds would be used for group operations and to boost its working capital.

The Sunday Times said the buyer was owned by Malaysia’s Employees Provident Fund.

(Reporting by Paul Sandle; editing by Kate Holton)

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