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El Corte Inglés Releases Asset Package In Hunt For Investors

Published on Aug 25 2016 11:34 AM in Retail tagged: Spain / El Corte Inglés / Spanish Retail / Spanish Supermarkets

El Corte Inglés Releases Asset Package In Hunt For Investors

El Corte Inglés has released a first "package of assets",in order to determine the level of interest among investors.

As sources within the company reported to revistainforetail.com, this package includes 33 logistics assets, which together account for over 500,000 square metres of surface, as well as five sites.

Morgan Stanley has been appointed to lead the search for investors interested in El Corte Inglés' assets. The initial value estimated for the company is between €200 to €300 million. Non-binding offers will be accepted until late September.

Some of the centres the company is selling include La Peluquera (Madrid), Las Atalayas (Alicante) and Goro in Telde (Gran Canaria).

The sites and facilities that El Corte Inglés will sell are worth an estimate of €1,000 million.

© 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.

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