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Sports Direct extends shares bet on Debenhams

Discussion in 'Market News' started by Lily, May 12, 2016.

  1. Lily

    Lily Forum Member

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    Mike Ashley-owned sports retailer reiterates plan to be supportive shareholder of department store business after 2015 deal for 10% of shares

    Sports Direct, controlled by billionaire Mike Ashley, has extended its bet on Debenhams by a year and reiterated that it would be a supportive shareholder in the department store chain.

    The sportswear retailer agreed a so-called put-option deal with Goldman Sachs over a 10.5% stake in Debenhams in January 2015. It announced this morning that the agreement had been extended by one year.

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