Monday, March 26, 2007

Morrisons in Talks Over £1 Billion Sale Leaseback of 26 UK Store Portfolio

Reuters - March 25, 2007

WM Morrison Supermarkets (MRW.L) is in talks with property tycoons Sol and Eddie Zakay to sell 26 sites that could be worth up to 1 billion pounds, the Sunday Express reported. The paper cited no sources but said it would be the supermarket's first-ever deal to sell off stores.

Morrison signalled earlier this month it was ready to tap the value of its extensive property assets if it needed to fend off a takeover attempt, but said it had not received any approaches from private equity firms. Sphere: Related Content

No comments:

Wikinvest Wire