Amazon..com, the world’s largest e-commerce giant, will sell its property holdings to finance its real-estate expansion, a person familiar with the matter said Monday.
The sale is expected to close by the end of the year, according to the person, who asked not to be identified discussing confidential matters.
The person said Amazon has not provided details on the value of the property holdings.
The company is one of the largest U.S. real estate investors, and its investments in real estate have generated billions of dollars in sales for the retailer.
Amazon is expected sell the real estate in the U.K. and Germany.
Amazon is the biggest U.M. retailer to file for bankruptcy protection since 2008.