The aim of the company led by Amancio Ortega - who still wants to get rid of 14 units in Spain - is to reduce the weight of its real estate portfolio. After selling the real estate, he continues to occupy them as a tenant.
Inditex has sold 16 Zara stores in Spain and Portugal, expecting to put 400 million euros in the proceeds from the sale. The operation, which is advanced by Bloomberg, expects the clothing brand to later occupy the properties as a tenant under sale-and-leaseback contracts.
Read more (in portuguese): Zara wants to sell two stores in Portugal