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El Corte Inglés Puts €400-Million in Logistics Centres Up for Sale

El Corte Inglés has commissioned BNP Paribas to find an investor to buy its portfolio of logistics centres where it has the goods it sells in its shops. The retail group will begin its disinvestment plan to reduce debt through the sale of logistics assets.

The retail giant has launched a plan to raise approximately 2 billion euros to reduce the increase in debt caused by the pandemic, according to El Confidencial.

Sources close to the operation explain that the BNP Paribas executives in charge of structuring the sales process of the El Corte Inglés stores are Jean-Bernard Gaudin, national director of Industrial and Logistics, and Fernando Sauras, director of Investment of the same department.

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