UPDATE 2-Sears to set up REIT to raise $2.5 bln from shareholders

April 1, 2015 1:41 PM

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April 1 (Reuters) - Sears Holdings Corp plans to raise more than $2.5 billion from shareholders by offering rights to buy shares in a real estate investment trust that will hold some of its stores.

The REIT is the latest in a series of steps Chief Executive Eddie Lampert has taken to shore up the finances of the retailer, which has posted losses for nearly three years.

Also read: Dow gains 100 points amid deluge of corporate news; real estate leads

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