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Sports Direct in talks to buy Irish sports chain

Sports Direct is in talks to buy struggling Irish sports chain Elverys for €12.5m (£10.3m), according to reports.

Elverys, the oldest sports chain in Ireland, was to be sold in a management buyout team backed by Irish financial company Capnua for €10m (£8.3m) but talks are thought to be on hold after the intervention of Sports Direct owner Mike Ashley.

Rival chain Lifestyle Sports is also understood to be interested in buying Elverys and talks are continuing according to The Guardian.

Buying Elverys 55 stores would give Sports Direct’s footprint in Ireland a significant boost. The company currently has 26 of its own-branded stores and a 50% stake in the Heatons department store chain, which has nearly 50 stores across Northern Ireland and the Republic.

The sports giant recently snapped up a 4.6% stake in department store Debenhams.

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