It will be on the coming 23rd of May the first stage will begin, revealed Spanish newspaper Eje Prime. Among the main parties interested in this diversified portfolio – which includes retail spaces, terrains, warehouses and offices – are Apollo, Blackstone, Cerberus and Lone Star.
After gathering the proposals to acquire these assets – which together should be worth between 1.500 and 2.000 million euro -, El Corte Inglés should announce a second stage of negotiations during which the most attractive proposals will be analyzed. The Spanish group will be assisted in this process by consultant PwC.
As had been announced by the IP, the result of these assets’ sale will be used to reduce the group’s bank debt, which reached, at the end of 2018, 3.652 million euro.