By Reuters
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LONDON - British sportswear and fashion group Frasers has acquired online women's fashion retailer Missguided out of administration, it said on Wednesday.
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The group, formerly called Sports Direct and controlled by Mike Ashley, said it would pay 20 million pounds ($25.2 million) for Missguided's intellectual property, which collapsed into administration on Monday.
The deal is the first for new Frasers CEO Michael Murray, who succeeded Ashley in that role last month.
($1 = 0.7946 pounds)
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