1st Jul 2026 10:58
(Alliance News) - Frasers Group PLC on Wednesday reported the sale of Sports Direct Malaysia, generating proceeds of USD150 million.
The Shirebrook, England-based owner of the House of Fraser, Sports Direct and Flannels brands will sell the Malaysian business to its partner MAP Active, which trades as PT MAP Aktif Adiperkasa Tbk.
Under the terms of the sale, Frasers will enter "a long-term agreement under which MAP Active will further grow and develop Sports Direct in Malaysia, with a continuing income stream payable to Frasers".
"This builds on the group's existing partnership with MAP Active across Indonesia, Philippines, Thailand, Vietnam and Cambodia, complementing Frasers Group's Southeast Asian market strategy to unlock efficiencies and streamline operations in the region," Frasers said.
It said that MAP Active will aim to open 350 new Sports Direct stores across the south east Asia region.
Frasers Chief Executive Michael Murray commented: "MAP Active is a valued strategic partner, and this transaction further deepens our relationship as we accelerate Sports Direct's growth across Southeast Asia. Together, we are creating a strong platform to deliver our ambitious growth plans. I look forward to continuing to work with the MAP Active team to unlock further value."
Frasers shares rose 2.2% to 735.00 pence on Wednesday morning in London.
Last week, Frasers made its "final" EUR1.93 billion takeover bid for Hugo Boss AG, of which it already owns 26%. Earlier in June, Frasers had said it expected to complete the transaction in the second half of this year. It has also made a GBP166 million tilt to take full ownership of footwear retailer Accent Group Ltd, which operates in the Australasian market.
By Holly Munks, Alliance News reporter
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