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Carrefour Brasil in talks with Barzel Properties over $260 million deal

2023-05-12 06:48
SAO PAULO Carrefour Brasil said on Thursday it has entered into exclusive talks with Barzel Properties for the
Carrefour Brasil in talks with Barzel Properties over $260 million deal

SAO PAULO Carrefour Brasil said on Thursday it has entered into exclusive talks with Barzel Properties for the sale of five distribution centers and five stores for 1.3 billion reais ($259.83 million).

In a securities filing, the Brazilian arm of French retailer Carrefour SA said the properties will be leased back under 20-year lease agreements, which are renewable for additional 5-year terms.

Rent expenses related to these properties will be around 10 million reais per month, it added.

($1 = 5.0033 reais)

(Reporting by Carolina Pulice and Peter Frontini; Editing by David Alire Garcia)