date:Nov 29, 2013
Eroski is looking to sell its supermarkets in central and southern Spain, retaining only those in the north, especially in the Basque Country and Catalonia.
The company has started a series of meetings with its creditors to reduce debts by 50%; a task managed by Morgan Stanley and Deloitte. Eroski owes 2,400 million Euro to 15 financial institutions as part of a syndicated loan and has a total debt of 3,000 million Euro.
If the sale goes through, Eroski would lose a good part of the actives ac