Morrisons strikes £331 million property deal amid significant debts

Morrisons strikes huge property deal amid significant debts

The private equity-owned retailer said on Thursday that it expects to complete the “ground rent financing” deal around October 2.

Morrisons announces £331m deal to sell and lease back store sites

The Yorkshire-based chain has struck the property deal as it tries to reduce debt levels

Morrisons strikes £331 million property deal amid significant debts

Supermarket group Morrisons has agreed a £331 million property deal as part of efforts to slash its significant debt pile. The private equity-owned retailer said on Thursday that it expects to complete the “ground rent financing” deal around October 2. It said Morrisons will sell 76 properties to an undisclosed business, before these are then leased back to the retail firm. Sky News reported that real estate investor Song Capital is the buyer. T…

Morrisons strikes £370m property deal in bid to shrink debt pile

The supermarket chain, owned by buyout firm CD&R, could announce the ground rent deal with Song Capital as early as this week, Sky News learns.

Improvements In Availability And Loyalty Card Offer Driving Growth At Morrisons; Agrees Property Deal To Shrink Debt

Morrisons delivered further sales growth during its third quarter to 28th July as moves to improve product availability and enhance the appeal of its More Card offer helped it win back shoppers. Total sales (ex-fuel) were up 2.1% to £3.9bn, (more…) The post Improvements In Availability And Loyalty Card Offer Driving Growth At Morrisons; Agrees Property Deal To Shrink Debt appeared first on KamCity.

Morrisons agrees £331m property deal on extra long leases to cut debt pile

Read More   Transaction will reportedly provide investment firm Song Capital with ground rent on 76 supermarkets for 45 years Morrisons has raised £331m to cut its debt pile through the sale of ground leases on 76 supermarkets as part of a turnaround plan under the new chief executive, Rami Baitiéh. If all the proceeds are…