The French group Carrefour in Brazil announced this Friday that it has begun exclusive negotiations with Barzel for the sale of five distribution centers and five stores, for a total amount of 1,300 million reais (240 million euros).
“These assets will be leased to Carrefour in 20-year lease contracts, renewable for additional periods of 5 years” for an amount of 10 million reais per month, which should allow “guaranteeing the continuity of operations,” the distributor details in a press release.
Almost a year after the integration of the Grupo Big chain
According to the group, this sale-leaseback operation is in line with its strategy “which seeks to maximize its operational and financial efficiency by carrying out a permanent review of its real estate assets,” according to the same source. Barzel is a real estate investment and asset management company.
The closing of the transaction is subject to the approval of the competition authorities. The integration of the Grupo Big chain in mid-2022 has strengthened Carrefour’s number one position in Brazil, which retains key markets in France and Spain.
Source: BFM TV
