Sears to raise $2.5 billion by selling stores to REIT

April 1, 2015 11:11 AM

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Sears to raise $2.5 billion by selling stores to REIT

(Reuters) - Sears Holdings Corp (SHLD.O) said it would raise more than $2.5 billion by selling stores to a real estate investment trust it is setting up, in the latest move to shore up its finances.

Sears shares rose 7 percent at $44.22 in premarket trading on Wednesday.

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