DaimlerChrysler sells, leases back Stuttgart HQ

Newswire

FRANKFURT, Oct 27 (Reuters) - DaimlerChrysler will sell and lease back its former Stuttgart headquarters in a deal that will generate 240 million euros ($303.8 million) in cash and boost operating profit by around 18 million euros this year. The world's fifth-biggest carmaker said in a statement on Friday it had sold the property to IXIS Capital Paertners Ltd and would lease it back for 15 years.

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