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)