El Corte Inglés Plans Disinvestment To Help Reduce Debt
El Corte Inglés is planning the sale of five sites, and 33 finished facilities, which together account for a surface of 500,000 square metres.
As reported by expansion.com, the company will accept non-binding offers, until the end of September.
These assets come with guaranteed leases of five, ten, fifteen and up to twenty years in some cases.
The Spanish retail giant has ordered Morgan Stanley, to find investors interested in these assets, valued between €200 and €300 million.
Among the assets to be sold, some of the highlights are the company's logistic centres in Bisbal Del Penedès (Tarragona) and in Madrid.
El Grupo Inglés hopes that this disinvestment helps them reduce their debt, without the need to sell more non-strategic assets in the future.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.