“Sonae received a total amount of 300 million euros, generating a gain of 168 million euros, which will be recorded in its consolidated results in the fourth quarter of 2023”, says the Sonae group in a statement sent to the Market Commission of Securities (CMVM).

This operation does not impact the consolidated turnover or the underlying EBITDA (earnings before taxes, interest, amortization and depreciation) of Sonae, since ISRG was consolidated using the equity method in the group's accounts.

In the 12 months prior to 30 June 2023, ISRG's contribution to Sonae's consolidated EBITDA (using the equity method) amounted to 19 million euros.

The British sporting goods chain JD Sports announced on July 7th that it would buy for 500.1 million euros the 49.98% of Iberian Sports Retail Group that it did not own and which were controlled by Balaiko Firaja Invest and Sonae' holding'.

With this transaction, JD Sports will assume 100% control of ISRG's capital.

ISRG operates more than 460 stores across Europe, including JD in the Iberian Peninsula, Sprinter in Spain, Sport Zone in Portugal and Aktiesport and Perry Sport in the Netherlands.

In addition, it has a 98% stake in online company Deporvillage and a 50.1% stake in fitness equipment company Bodytone.