Malaysia's Employees Provident Fund buys Sports Direct headquarters: Report

A pedestrian walks past the entrance of a Sports Direct store in central London, on Aug 10, 2018. PHOTO: AFP

LONDON (BLOOMBERG) - Malaysia's Employees Provident Fund has bought Sports Direct International's UK headquarters for 120 million pounds (S$210 million), The Sunday Times reported, citing people it did not identify.

Billionaire Mike Ashley's Sports Direct said on May 17 that it was in advanced negotiations to sell the freehold rights to its property in the town of Shirebrook in central England, including a warehouse complex and distribution centre, to KWAA Logix Sportivo for 120.1 million pounds.

The Times reports that EPF owns KWAA Logix Sportivo.

The UK sports retailer also said that upon completion of the deal, it will take a 15-year lease on the Shirebrook property and continue to operate it as a distribution center, offices and retail business.

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