PETALING JAYA: The Employees Provident Fund has bought the UK headquarters building of Sports Direct International for £120 million (about RM640 million), according to the UK Sunday Times newspaper.
Upon completion of the deal, Sports Direct will take a 15-year lease on the property, a warehouse complex in Shirebrook, Darbyshire, and continue to operate it as a distribution centre, offices and retail business.
The newspaper said Sports Direct is said to have been “opportunistic” in selling the site at a time of strong demand for industrial property. EPF has previously traded industrial and retail properties in Britain.
On May 17, Sports Direct, owned by billionaire Mike Ashley, said that it was in advanced negotiations to sell the freehold rights to the property to KWAA Logix Sportivo Ltd for £120.1 million. The Sunday Times said EPF owns KWAA Logix Sportivo.
The EPF is also one of the owners of the Battersea power station development in London.
Mike Ashley is also the owner of the Premier League football club Newcastle United.