JD Sports Fashion Plc (JD.L) said it taken further steps to control the global distribution of the Canterbury brand through the acquisition on 23 December 2009 by its wholly owned unit Canterbury Ltd. of 100% of the issued share capital of Canterbury International Australia Pty Limited in Australia or 'CIA' and 51% of the issued share capital of Canterbury of New Zealand Limited in New Zealand or 'CNZ'.
The company noted that the total cash consideration paid for these investments was £1.6 million, including fees of which £1.4 million is being used to satisfy existing debt. Canterbury and the vendors have agreed a put and call option, whereby Canterbury may buy the remaining 49% of CNZ's issued share capital.
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