By  on April 23, 2018

Sears Holdings Corp. has been trying to sell certain assets for two years, and now ESL Investments is stepping up to the plate to say it is a willing buyer.

The hedge fund managed by Edward S. Lampert, who is also chairman of Sears, sent a letter to the company’s board stating that Sear’s Kenmore appliance brand, its home improvement business and its PartsDirect business of the Sears Home Services Business should be divested. ESL is also ready to acquire some real estate owned by the company on the condition that it will also enter into a master lease so the stores can continue to operate. Sears pegged the enterprise value of the home improvement business and the PartsDirect business at $500 million. It further said it would enter into agreements with Sears after acquisition to ensure that those businesses can continue operations.

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