Captivating Headline: Carrefour Brasil Divests 15 Atacadao Stores for $127 Million

Carrefour Brasil, the Brazilian arm of the French retail giant, has announced the sale of 15 Atacadao stores as part of a strategy to optimize its real estate assets. The deal with Guardian Real Estate, a real estate fund, is valued at 725 million reais (approximately $127.4 million). Following the sale, Carrefour Brasil will lease back the properties for at least 13 years to maintain Atacadao operations at these locations.

This transaction reflects Carrefour Brasil's strategy to derive value from its extensive real estate portfolio. The company expects to complete the sale within the year and has disclosed that it will pay around 4.8 million reais in monthly rent for the properties.

This decision comes amidst reports of Carrefour Brasil in discussions to sell up to 65 stores from its Bom Preco and Nacional brands. The local newspaper Valor Economico reported that the company is working with Bradesco BBI as an advisor for these potential sales, which may involve a series of real estate assets.

On the financial front, Carrefour Brasil reported a 5% year-on-year increase in total gross sales, reaching 29.5 billion reais for the quarter ending in September. This growth was notably driven by Atacadao stores, which saw an 8% increase in sales. Same-store sales for Atacadao also rose by approximately 6% compared to the previous year. These preliminary sales figures were released ahead of the company's audited third-quarter earnings, expected on October 31.

The company did not immediately comment on the ongoing discussions reported by Valor Economico outside of business hours.