Sports Direct confirms 120-mln-stg HQ sale and leaseback deal


LONDON, May 28 (Reuters) - Sports Direct SPD.L, the sportswear retailer owned by billionaire Mike Ashley, confirmed the sale of the freehold to its Shirebrook logistics centre to Kwasa Logix Sportivo for just over 120 million pounds ($152 million) in cash on Tuesday.

Sports Direct, which will take a 15-year lease on the property, said the proceeds would be used for group operations and to boost its working capital.

The Sunday Times said the buyer was owned by Malaysia's Employees Provident Fund.

($1 = 0.7887 pounds)

(Reporting by Paul Sandle; editing by Kate Holton)

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