November 9, 2022
The Brazilian subsidiary of French retail group Carrefour said Tuesday that is studying the potential carve-out of its real estate division to create a new company with BRL1.5 billion ($292 million) in net operating income.
The spin-off "would create one of the largest retail-focused real estate companies in Latin America," Carrefour Brasil said in a securities filing.
Carrefour owns more than 450 real estate assets in Brazil, including stores, shopping malls, projects under development and land
French retailer's local subsidiary could create one of the largest real estate companies in Latin America with $290 mln in income