Carrefour Brazil announced that it has entered into exclusive negotiations with Barzel for the sale of 5 distribution centers and 5 stores owned by Grupo Carrefour Brasil, for a total amount of ~R$ 1.3 billion (~R$ 1.1 billion net of capital gain taxes and other fees). Those assets will be leased back to Carrefour under lease agreements with 20-year terms, renewable for additional 5-year terms, ensuring the continuity of operations. Rent expenses related to these properties will be ~R$ 10 million per month (cap rate of 9.1%).
