Inditex sells 16 stores for €400M

Inditex sells 16 stores for €400M

This digital newspaper informs that the transaction is scheduled to close this week, which will allow the owner of Zara, Massimo Dutti and Bershka, among other brands, to include this divestment in the results for the year 2017.

The operation led by Savills-Aguirre Newman, will mark a milestone in the history of Inditex, which with this divestment activates a strategy of selling small historic stores to continue concentrating its activity in big stores ('flagships'), like in the past, since the transaction will have been completed in just a month and a half.

About 80% of the value of this portfolio corresponds to the centers located in Madrid (Zara de Preciados and Lefties de Carretas), Barcelona (Zara de la calle Pelayo) and Lisboa (Rua Augusta and Antonio Augusto Aguiar).

The rest of the stores are located in Valencia, Cordoba, Albacete, Palma de Mallorca, Seville, San Sebastian, Ciudad Real, Zamora and Fuengirola, and are occupied by different brands of the Galician holding.

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