Merlin sold 19 hotels by 535 million euros – Investing.com Spain

MADRID (Reuters) – The real Merlin (MC:) said on Monday that it has agreed the sale of a portfolio of 19 hotels for the French group, Foncière des Murs by 535 million euros.

Merlin, which indicated that he had evaluated this portfolio as non-strategic, said that the funds raised will be used to reduce leverage and to “general purposes” of the company.

Between the assets sold include the Eurostars Grand Marina at the port of Barcelona, the NH (MC:) Collection in the plaza de Colón in Madrid and the hotel Barceló Torre Madrid, in Plaza España.

The hotels, most of them located in Madrid and Barcelona, are operated in regime of rent for NH, Barceló, Eurostars, Group Meliá (MC:) and AC.

Merlin indicated that the divestments in 2016 amounted to 761 million euros, generating capital gains of 51 million euros.

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