Carrefour Brasil Sells 15 Atacadao Sites for $127 Million

SAO PAULO - Carrefour Brasil, a unit of the French retailer Carrefour (EPA:CARR), has announced the sale of 15 Atacadao properties for 725 million reais ($127.4 million) to Guardian Real Estate, a real estate fund. The properties will be leased back by Carrefour for at least 13 years to continue operating as Atacadao stores. This transaction aligns with Carrefour Brasil's strategy to capitalize on its real estate assets. The company anticipates the deal will conclude within the year, with a monthly rental cost of approximately 4.8 million reais.

In related developments, reports suggest Carrefour Brasil is in discussions to sell a total of 65 stores from its Bom Preco and Nacional brands, with Bradesco BBI advising on the negotiations.

Carrefour Brasil's recent financial performance indicates growth, with total gross sales reaching 29.5 billion reais in the last quarter, marking a 5% increase compared to the previous year. Atacadao stores, in particular, saw an 8% rise in sales, with same-store sales growing nearly 6%. The company plans to release its audited third-quarter earnings on October 31.