Last Updated: March 16, 2005 09:45am ET

Tesco Signs $700M Supermarket Sale-Leaseback Deal

By Anita Howarth

LONDON-Property tycoon Vincent Tchenguiz has signed a euro-526 million ($700-million) sale-leaseback with Britain’s largest supermarket chain, Tesco. The deal is the latest in a string of corporates to have opted out of property ownership in favor of reinvesting the proceeds in their core businesses.

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