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Zara founder Amancio Ortega has spent over $700 million in recent weeks on a series of logistics acquisitions, in what’s shaping up to be one of the biggest bets yet by the Spanish textile tycoon.
Ortega family investment company Pontegadea bought five logistics centres in the US states of Tennessee, South Carolina, Virginia, Pennsylvania and Texas from Realty Income Corp. for about $722 million, in a deal reported by Spanish daily El Pais on Tuesday and confirmed by a Pontegadea official.
