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    18-03-2019

    Eversheds Sutherland advises Footasylum on its proposed disposal to JD Sports

    Eversheds Sutherland has advised Footasylum plc (Footasylum) on the sale of  its entire issued and to be issued share capital to Britain’s biggest sports retailer, JD Sports Fashion plc (JD Sports), a month after it took an initial eight per cent stake in the footwear company.

    As part of the deal, JD Sports will pay Footasylum shareholders a price of 82.5 pence in cash per share, in which it already owns an 18.7% stake.

    The Eversheds Sutherland team is led by corporate Partners Stephen Nash and Nicola Brookes with support from Partners Peter Harper (competition) and Mathew Gorringe (tax), Principal Associate Tim Wragg (tax), Associates Kathryn Dodds (Corporate), Laura Wright (competition), and Todor Papanov (competition).

    Nicola Brookes commented:

    “This proposed acquisition is significant news for the retail sector and a notable strategic transaction for Footasylum, one that would bring benefits to both businesses. We are delighted to have advised the team.”

    Danny Hall, Client Partner, Eversheds Sutherland commented:

    “Footasylum is a valued client of our global legal practice and we’re very pleased to have supported the team on this strategic step.”

    Clare Nesbitt, CEO of Footasylum commented:                                   

    “Eversheds Sutherland has been invaluable on this proposed transaction. The team has provided a high level of legal advice and commercial foresight to ensure the best result and enable us to make the right decision for the future of the business.”

     

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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