Tesco, the largest supermarket group in the UK, is to sell commercial property in a deal that will raise as much as £600 mln (EUR 885 mln), a British newspaper reported at the weekend without revealing its sources.
Tesco, the largest supermarket group in the UK, is to sell commercial property in a deal that will raise as much as £600 mln (EUR 885 mln), a British newspaper reported at the weekend without revealing its sources.
The company is selling 16 distribution centres in the UK, and the Sunday Express said the supermarket chain would rent back the warehouses for £23 mln a year. Several large property companies have been suggested as possible bidders, including Land Securities, British Land and Brixton Estate. Other potential bidders are Prudential, Standard Life, Morley Fund Management and New Star, the newspaper said.
