The distribution cooperative is facing a debt repayment of more than 500 million euros in July and has informed investors of its intention to get rid of its properties.
The Eroski cooperative wants to sell almost all its supermarket properties and raise approximately 260 million euros to reduce its debts and strengthen its activities. This is, intends to sell the property where are your supermarkets? and then live in them on a rental basis.
Eroski must be confronted in July a payment of your debt plus 500 million euros and for that purpose it wants to issue bonds. Precisely by issuing these bonds, it has made known to investors its intention to get rid of its properties.
It is not the first time that Eroski has sold his real estate to refinance debts. When Eroski finally gets rid of these properties, valued at 260 millionwould lose almost all its properties.
Last year the cooperative reduced its financial debt by 44 million euros, and between February and July this year a further 35 million euros in debt was repaid. debt syndicated, which has remained in it 874 million at the end of the semester.
Eroski has one profit of 69.9 million euros between February and July this year that represents an increase of 49.3% compared to the 46.8 million in the same period of 2022, the cooperative said.
Source: EITB
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