The company earlier bought the properties from BP Products North America.
EZ Energy Ltd. (TASE:EZ) subsidiary EZ Energy USA Inc. has signed a letter of intent to sell up to 17 gas stations and convenience stores in the US to a real estate investment trust (REIT) for up to $20.7 million. The properties were previously purchased from BP Products North America Inc. $15.5 million.
EZ Energy will lease back the properties in a 20 year contract. If the company sells all 17 properties, it will pay $1.85 million in annual rent.
Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2007
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