Sports Direct International plc (LSE:SPD) entered into an agreement to acquire 6.9% stake in Findel plc (LSE:FDL) from City Financial Investment Fund Series IV - City Financial Absolute Equity Fund, managed by City Financial Investment Company Limited for £9.66 million on March 4, 2019. Post completion of the acquisition, Sports Direct International plc will hold 31.85 million Findel shares representing 36.8% stake. In a related transaction, Sports Direct is required to make a mandatory cash offer for the Findel Shares not already held by Sports Direct, at a price of £1.61 pence per Findel Share. The transaction is expected to close on March 6, 2019. The Offer will initially remain open for acceptance until April 9, 2019. Luke Bordewich, Stuart Ord and George Fry acted as financial advisors to Sports Direct International plc. Alantra UK acted as a financial advisor to Findel plc.

Sports Direct International plc (LSE:SPD) completed the acquisition of 6.9% stake in Findel plc (LSE:FDL) from City Financial Investment Fund Series IV - City Financial Absolute Equity Fund, managed by City Financial Investment Company Limited on March 19, 2019. Following the Acquisition Sports Direct now holds, in aggregate, 31.9 million Shares, representing approximately 36.8% of the existing issued share capital, and voting rights, of Findel.