Tesco may be about to sell a number of stores in order to raise about £500m, it has been reported.
According to the Sunday Telegraph, the supermarket would sell the freeholds on up to 12 properties and then lease the stores back.
Property executives told the newspaper that a deal could be finalised in the next couple of weeks. The buyer is understood to be a large UK pension fund.
It is also believed that Tesco would create a 50-50 joint venture with the buyer so that it still has a degree of control over the stores in question. Moreover, the agreement would allow it to partially oversee future increases in rent, the Sunday Telegraph noted.
Analysts said that the move would allow the retailer to alleviate a portion of its debts.
