Sports Direct offers to buy Magasin Du Nord for 100 milion pounds

Mike Ashley’s Sports Direct has offered to buy Debenhams’ Danish business, Magasin Du Nord, for 100 million pounds.

The move comes as part of Ashley’s ongoing takeover bid for the struggling UK department store. In a statement released by Sports Direct on Friday, the company also reaffirmed the 150 million pound interest-free loan offer it made to Debenhams earlier in March.

The statement was released hours after Debenhams confirmed it was seeking a 200 million pound cash injection from its existing lenders as it continues to fend off Ashley’s takeover bid.