Top Stories
Carrefour Brasil in talks with Barzel Properties over $260 million deal
Global Banking and Finance Review
Company
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).
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)
A distribution center is a specialized facility used to store and distribute products to retailers or customers. It plays a crucial role in the supply chain by ensuring efficient inventory management and timely delivery.
Property management involves overseeing and managing real estate properties on behalf of the owner. This includes tasks like maintenance, tenant relations, rent collection, and ensuring compliance with laws and regulations.
An investment is an asset or item acquired with the goal of generating income or appreciation. Investments can include stocks, bonds, real estate, or other financial instruments.
A securities filing is a formal submission of documents to regulatory authorities, such as the SEC, that disclose important information about a company's financial status, operations, and securities offerings.
Explore more articles in the Top Stories category
