Goldman Sachs to sell 16 mln shares in Sports Direct Intl

LONDON Wed Oct 23, 2013 12:27pm EDT

LONDON Oct 23 (Reuters) - Goldman Sachs International said on Wednesday it would sell up to 16 million shares in Sports Direct International acquired from the retailer's founder and deputy chairman Mike Ashley.

The bank said it would sell the shares to institutional investors, with bookbuilding starting immediately.

Ashley is the largest shareholder in Sports Direct, owning 385.4 million shares or 64.4 percent of the capitalisation, according to Thomson Reuters data which cites a July filing.