New Morrisons owner gives green light to £500m property sell-off

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New Morrisons owner gives green light to £500m property sell-off
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Sky News has learnt that the grocer is in the process of appointing advisers to oversee the disposal of a substantial chunk of Morrisons' manufacturing and distribution facilities across the UK

"High levels of real estate ownership has been a feature of previous CD&R investments, including MFG where real estate ownership has remained above 90%, since the acquisition by CD&R in 2015."

The period since CD&R agreed to buy Morrisons has been a volatile one, with financing markets having become increasingly twitchy and soaring inflation and supply chain challenges posing headaches to supermarkets attempting to cater to price-conscious shoppers.

CD&R is also contending with an investigation into the impact of its Morrisons takeover on competition into Britain's fuel retailing market.

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