Invesco Plans To Seize Control Of JJB Sports - Newspaper

Dow Jones Newswires U.S. fund manager Invesco Ltd. (IVZ) is planning to seize control of struggling U.K. retailer JJB Sports PLC (JJB.LN), the Sunday Times reports without citing sources. Invesco, the largest investor in JJB Sports with a 47.3% stake, has tabled a proposal to buy the company's outstanding debt from Lloyds Banking Group (LYG), the paper reports. Invesco would then work with 3.1% shareholder U.S. retailer Dick's Sporting Goods Inc. (DKS) on a restructuring plan. JJB made a 101 million pounds ($158 million) loss in 2011 and last month admitted its finances were in a perilous state and