Blacks head for talks with shareholder Sports Direct

BLACKS Leisure’s financial advisers were yesterday in talks with their counterparts at Sports Leisure in an attempt to strike a funding deal for the company that will prove attractive to both sides and prevent a damaging clash amongst shareholders of the outdoor sports clothing group.

The talks commenced immediately after yesterday’s shareholders meeting at Blacks which was adjourned in order to give the company and Sports Direct time to rework the detail of a £22m fundraising.

There were suggestions that Sports Direct might be attracted to participating in a fundraising that would retain its shareholding at 29.9 per cent.