Find in the news:
BY COUNTRY

Asda nears completion of £650m portfolio sale



The billionaire Issa brothers are considering finalizing a £650 million deal to sell a portion of Asda's property portfolio to a US investor.
Asda supermarket

Mohsin and Zuber Issa, who acquired the supermarket giant in 2020 in partnership with private equity firm TDR Capital, are pursuing sale and leaseback transactions for Asda's properties to reduce the company's substantial debt burden amidst rising interest rates.

After a competitive bidding process, it is reported that Realty Income Corporation, a New York-based investor, is nearing the purchase of approximately 25 Asda stores on leases of up to 20 years. According to the industry newsletter React News, the deal is valued at a net initial yield of around 6.5 percent.

The sale and leaseback of the Asda property could solve the problem of lower interest payments but could lead to another problem of higher rents. The Issa brothers have also sought to reduce the growing debt burden of their EG Group, which sold 415 stores on the U.S. East Coast in a $1.5 billion leaseback sale in March.

"Аnnouncement demonstrates the progress we continue to make to put in place a robust capital structure for the medium term that will underpin our long-term strategy and represents an important first step in this process.", - commented co-chief executive Zuber Issa.

Asda is a well-known British supermarket chain that operates many stores throughout the United Kingdom. The company was founded in 1949 and has since grown to become one of the leading retailers in the country. Asda offers various products, including groceries, clothing, household goods, electronics, and more.

In 2020, Asda was acquired by the Issa brothers, Mohsin and Zuber, in partnership with TDR Capital. Despite the ownership change, Asda continues operating under its brand name and remains a prominent player in the UK retail market.

More about shopping malls in the United Kingdom



YESTERDAY, France:
The brand is set to open a flagship store in the Parisian district of Le Marais.
May 24, 2024, USA:
Stüssy is preparing to launch the new archive store in Brooklyn, New York, for one month.
May 23, 2024:
Located on Broadwick Street in Soho, London.
May 22, 2024, USA:
Luxury fashion house Balenciaga inaugurated its first standalone store in Chicago, Illinois.
May 21, 2024, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
May 20, 2024:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
Friend
and Follow
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us