Goldman Sachs prices Sports Direct shares at 850 pence each

LONDON, April 7 Mon Apr 7, 2014 5:10pm EDT

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LONDON, April 7 (Reuters) - Goldman Sachs has priced its accelerated bookbuild of shares in Sports Direct International at 850 pence each, a source familiar with the matter said on Monday, valuing the placement at 212.5 million pounds ($352.75 million).

Goldman Sachs earlier said that it was planning to sell up to 25 million shares to institutional investors, which the source said would be sold at a price range of 850-870 pence each.

Goldman Sachs is sole bookrunner on the placement. The shares were acquired from MASH Holdings Limited, owned by Sports Direct founder Mike Ashley. (1 pound = $1.66 U.S.) (Reporting by Freya Berry; Editing by David Gregorio)