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BRIEF-Sonae signs MOU with JD Sports and JD Sprinter for business combination in Iberia
March 9, 2017 / 8:15 AM / 6 months ago

BRIEF-Sonae signs MOU with JD Sports and JD Sprinter for business combination in Iberia

March 9 (Reuters) - Sonae SGPS SA:

* Says signs Memorandum of Understanding (MOU) with JD Sports Fashion PLC (JD Sports) and JD Sprinter Holdings (JD Sprinter) for business combination in Iberia

* Says MOU sets up key parameters for creation of an Iberian Sports Retail Group, that will have as shareholders JD Group, Sonae and the family shareholder of JD Sprinter with shareholdings of about 50 percent, 30 percent and 20 percent respectively

* Says combined group will become the second largest Iberian sports retailer

Source text: bit.ly/2mEbnRg

Further company coverage: (Gdynia Newsroom)

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