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Sports Direct divests from Finish Line Inc

Sports Direct has bought shares in Iconix Brand Group Inc, now representing 8.6% of the issued common stock of the company, divesting all interest in Finish Line Inc.

Iconix Brand Group Inc is a brand management company which owns brands across fashion, sports, entertainment and home, including Ed Hardy and Lee Cooper.

Sports Direct had built up a 19.3% stake in Finish Line but after JD Sports completed its $558m (£424m) Finish Line acquisition on Tuesday, the company has now fully disposed of its interest in the company.

Earlier this month Sports Direct nominated four individuals to stand for election on the Iconix Board of Directors.

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