Frasers sells Sports Direct Malaysia to partner MAP Active

British retail conglomerate Frasers Group has agreed to sell 100 percent of its interest in Sports Direct Malaysia to strategic partner MAP Active (PT MAP Aktif Adiperkasa Tbk) for 150 million US dollars.

Following the sale, Frasers will enter into a long-term deal under which MAP Active will “further grow and develop Sports Direct in Malaysia, with a continuing income stream payable to Frasers Group”.

In a statement, the British retail group said the move builds on its existing partnership with MAP Active across Indonesia, Philippines, Thailand, Vietnam and Cambodia, and complements its Southeast Asian market strategy “to unlock efficiencies and streamline operations in the region”.

Michael Murray, chief executive of Frasers Group, said: “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.”

MAP Active’s established infrastructure, local expertise and portfolio of distributed brands “will further accelerate the growth of Sports Direct in the region,” supporting the shared ambition to open more than 350 stores long term.

V.P. Sharma, group chief executive of PT Mitra Adiperkasa Tbk, added: “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.”