Supermarkets
Morrisons signs £370m property deal in bid to shrink debt
Song Capital will pay £370m for the right to receive an income stream from 75 of the group's supermarkets for the next 45 years
Morrisons has reportedly signed a £370m deal with the aim of using its property portfolio to shrink its debt pile.According to Sky News, the chain has agreed the ground rent transaction with real estate investor Song Capital, which will pay £370m for the right to receive an income stream from 75 of the group’s supermarkets for the next 45 years.
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