Carrefour Brasil in talks with Barzel Properties over $260 million deal
SAO PAULO (Reuters) – 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)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.