Frasers Group (LSE:FRAS) has agreed to sell its entire stake in Sports Direct Malaysia to MAP Active (PT MAP Aktif Adiperkasa Tbk) for approximately $150 million, subject to completion adjustments, in a deal that converts a directly owned operation into a franchised income stream.
The UK sports retail group, which controls brands including Sports Direct and House of Fraser, will receive the cash consideration alongside a continuing income stream from MAP Active as the Indonesian-listed retailer takes on the development and growth of the Sports Direct brand in Malaysia under a long-term agreement.
The transaction extends an existing commercial relationship: MAP Active already operates Sports Direct stores across Indonesia, the Philippines, Thailand, Vietnam and Cambodia on Frasers' behalf.
Malaysia becomes the sixth Southeast Asian market handed to the local partner, completing what Frasers describes as a regional strategy built around trusted local operators rather than direct ownership.
"MAP Active is a valued strategic partner, and this transaction further deepens our relationship as we accelerate Sports Direct's growth across Southeast Asia," said chief executive Michael Murray.
Completion remains subject to final adjustments, with no regulatory clearance conditions cited in the announcement.
