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

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)

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

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