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Morrisons Supermarket: Owner Kickstarts Plan To Sell Off Supermarkets In £150m Deal

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plans to sell-off some of its supermarkets in an effort to raise cash.

The grocer‘s owner CD&R is seeking to sell and lease back five supermarkets for £150 million in what will be the first such deal to be sanctioned in its 123-year history.

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Property agents from BNP Paribas are seeking buyers for the stores, which will come with 20-year leases and rent uplifts linked to inflation, The Sunday Times reported.

CD&R won the £7 billion auction for Morrisons a year ago and had the takeover approved by the CMA in June this year.

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The US private equity firm beat fellow bidder Fortress to the deal, and said it did not intend to launch “any material store sales or leasebacks”.

CD&R is already planning to sell and leaseback warehouses and food manufacturing sites.

Morrisons owns 86% of its 497 supermarkets – a higher proportion than any of its major grocery rivals.

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