Frasers sells Malaysian Sports Direct business for over £100m

The retailer said that, subject to final completion adjustment, the deal will see Frasers enter a “long-term agreement” with MAP Active, under which it will “further grow and develop Sports Direct in Malaysia with a continuing income stream payable to Frasers Group”.

Frasers already has a similar arrangement with MAP Active across Indonesia, Philippines, Thailand, Vietnam and Cambodia, which allows it to “unlock efficiencies and streamline operations in the [Southeast Asian] region”.

MAP Active has an “established infrastructure, local expertise and portfolio of distributed brands”, which will help accelerate Sports Direct Malaysia’s “growth… in the range, supporting the shared ambition to open over 350 stores long-term and deliver the world’s best sport and lifestyle brands to over 600 million customers”.

Frasers Group chief executive Michael Murray said: “MAP Active is a value 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”.

Group CEO of PT Mitra Adiperkasa Tbk (MAP Active) V.P. Sharma said: “We are delighted to be strengthening our relationships with Frasers Group through this transaction. Leveraging on our local expertise and regional retail network, we look forward to offering more of Sports Direct’s world-class offerings to our customers across the region – and unlocking new opportunities that create long-term value for both companies”.