Vincent Tchenguiz, the older brother of Robert Tchenguiz, is planning to sell his share in a £490m Tesco supermarkets joint venture.
The property entrepreneur will follow up the sale with a refinancing of up to £700m of his residential property to fund expansion elsewhere, according to The Times.
Tesco sold 12 of its stores and two depots into a joint venture with Consensus in March 2005, valuing the portfolio then at £366m. Tchenguiz could make £80m from the refinance, the paper added.
The property entrepreneur will follow up the sale with a refinancing of up to £700m of his residential property to fund expansion elsewhere, according to The Times.
Tesco sold 12 of its stores and two depots into a joint venture with Consensus in March 2005, valuing the portfolio then at £366m. Tchenguiz could make £80m from the refinance, the paper added.
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