Ground Rent Financing Transaction

Wm Morrison Supermarkets Limited

26 September 2024

 

Wm Morrison Supermarkets Limited

FOR IMMEDIATE RELEASE

26 September, 2024

Wm Morrison Supermarkets Limited ("Morrisons" or "the Company") announces the signing of a ground rent financing transaction (the "Transaction"). The Company expects that the Transaction will complete on or around 2 October 2024, subject to satisfaction of certain closing conditions.

Upon the completion of the Transaction, 76 properties will be transferred outside of the "Group" (being Market Holdco 3 Limited and its consolidated subsidiaries) and leased back to the Group. The entities acquiring (and leasing back) the properties will fund the acquisition of the properties using third party financing. The properties will remain under the control of the Market Topco Limited group (Market Topco Limited being the ultimate parent company of the Company).  Net proceeds from the Transaction will be approximately £331 million. The use of proceeds from the Transaction is under consideration.

Important Notice

This announcement is for informational purposes only and does constitute or form any part of any offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for, any securities of Morrisons or its group. This announcement is not for publication, distribution or release, directly or indirectly, in or into any jurisdiction in which the publication, distribution or release would be unlawful.

 

END