NRDC Sells Zeller Stores For $1.84B

NRDC Equity Partnershas sold 220 stores currently belonging to Canadian retailer,Zellers, toTarget,AltAssetsreports. The U.S. private equity firm has obtained a total of $1.84 billion from the sale.

As part of the deal, Zellers will sublease the properties back from Target and will continue to operate them as Zellers stores for an undisclosed period of time. NDRC portfolio company,Hudson Bay, will continue to manage a less number of stores under the Zellers banner after the Target deal.

Click here for the story fromAltAssets。