Big Lots May Buy Back Stock With Sale-Leaseback Proceeds

Off-price retailer Big Lots (NYSE: BIG) announced it has completed the $725 million sale-leaseback transaction for four of its distribution centers and is ready to use a portion of the proceeds from the deal to finance the repurchase of its shares.

After expenses and taxes, the deal with Oak Street Real Estate Capital will leave Big Lots with net proceeds of $550 million.

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Source Fool.com