Brazil’s GPA Sells Sao Paulo Headquarters, Land for BRL218M

Companhia Brasileira de Distribuição, known as GPA, said it sold its Sao Paulo corporate headquarters and land for BRL218m, according to a filing.

• Of the total, GPA will receive 82% in 2024 and 18% in installments through March 2026
• GPA to stay at headquarters through a 15-year rental contract
• Transaction is part of the company’s financial leverage reduction plan to reduce debt and strengthen capital structure

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