Lidl Said to Seek £113 Million from Sale of 14 UK Supermarkets

Lidl is looking to raise about £113 million ($151 million) from the sale and leaseback of 14 UK supermarkets, according to people familiar with the matter, as the German discounter seeks funds to grow its network.

Commercial real estate firm CBRE is marketing the stores, and an offer from a fund controlled by investment firm Aberdeen Group Plc has been accepted in principle, said the people, who asked not to be identified as the information isn’t yet public. The deal would allow Lidl to use the proceeds for its core business, including supporting its growth strategy.