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Sports Direct extends Debenhams put option

Mike Ashley-owned Sports Direct has extended its put option with Debenhams by one year.

The sportswear retailer originally struck a put option deal – an agreement to sell off an asset at an agreed price on or before a set date – with Goldman Sachs in January last year, when it took a 10.5% stake in Debenhams. The listed retailer later increased this to 16.6%.

In a statement, the company said: “Sports Direct reiterates its intention to be a supportive stakeholder in Debenhams and to create value in the interests of both Sports Direct’s and Debenhams’ shareholders.”

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