American investor eyes £400m Asda sale and leaseback deal
American investment and asset management group Blue Owl Capital is in talks with Asda regarding a £400m sale and leaseback deal.
The New York-listed group is eyeing the purchase of around 20 Asda stores, which it would then lease back to the supermarket retailer, according to Sky News.
A deal could reportedly be completed within the coming weeks.
Asda has previously completed sale-and-leaseback deals to raise funds. In 2023, the retailer disposed of 25 stores to American investor Realty Income in a deal worth £650m.
An Asda spokesperson declined to discuss the talks with Blue Owl Capital, but told Sky News: “Sale-and-leaseback [transactions] have been a feature of the retail industry for many years.
“While maintaining a strong freehold base remains central to Asda’s property strategy, we will consider suitable opportunities to unlock value from our property portfolio as part of our material programme of investment into the business.”