CincoDias.com (as translated in Google) - December 27, 2010
The Spanish subsidiary of German carmaker Daimler, Mercedes-Benz Spain, has reached an agreement with a subsidiary business of the insurer Mapfre life to sell its headquarters in Spain, located in the town of Alcobendas (north of Madrid) and shall leased for a minimum period of ten years, extendable to 20 years.
According to the company, the sale and leaseback agreement was closed on the basis of parameters of return of 6% and allows the firm to sell goods from his property to "immediately afterwards" rent for a period of time. The companies did not provide financial details of the operation.
Following the signing of this agreement, President and CEO of Mercedes-Benz Spain, José Luis López-Schumm, said in a press release with this real estate deal his company "follows the Daimler group's business strategy, which seeks progressive transformation in their rented office facilities and property of their factories, commercial outlets and mixed use.
"In this context," said the manager, "Daimler decisively bet for our country, as shown by, among others, the recent investments in expanding After Sales Logistics Center in Miralcampo (Guadalajara), the adaptation of the Vitoria plant for the mass production of electric version of the Vito van, and the creation of Shared Service Centre Accounting and Finance, Daimler to Western Europe in Madrid, "he added.
The firm noted that Daimler started this business strategy in 2006 with the sale of its headquarters in Stuttgart (Germany) to the British firm IXIS Capital Partners, to move to its lease for a period of 15 years. The procedure of sale and leaseback has been chosen by other group companies like Santander and Grupo Prisa, publisher of CincoDías.
Sphere: Related Content