14 October 2019 – The German investment fund Deka has sold eleven of the stores it acquired from Inditex for a total of 105 million euros. The firm stated that the sale was intended to “cover expenses” since the sales price was already 5% higher than Deka had paid for the assets.
Although Deka had initially intended to find a single buyer, the firm ended up selling the assets to an array of mainly local investors. Deka sold assets located in Albacete, Palma, Sevilla, San Sebastián, Ciudad Real, Zamora, Fuengirola and Lisbon. The firm is also finalising the sale of a store in Córdoba.
Original Story: Eje Prime – Marc Vidal Ordeig
Adaptation/Translation: Richard D. K. Turner