French retailer Leroy Merlin will sell all of its warehouses in Russia, but a lease will be signed with the new owner and the company will continue to use them. The proceeds from the sale are planned to be used to develop the network after the sale of the business to local management, as the company refused to finance this process, Kommersant writes, citing sources.
Both logistics centers of the retailer are located in the Moscow region, their total area is 270 thousand square meters. m. Potential buyers – Central Properties and “Ventall-Development”, the interlocutors of the newspaper reported. One of the sources added that it is almost impossible to find another tenant for such areas in Russia now, and therefore Leroy Merlin herself will rent her former warehouses.
CORE.XP calculated that the deal could amount to 11-12 billion rubles, Herzen believes that the new owner will receive a 15% discount, the newspaper notes.
The decision to transfer the business to local management at Leroy Merlin was announced a month ago – on March 24th. A spokesperson for the company said the company will continue to operate as usual and the change will not affect supplier relationships or employee performance.
Source: Rosbalt
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