O GPA (PCAR3), owner of the Pão de Açúcar supermarket banner, reported this Wednesday that its board of directors had approved contracting with banks to advance about 2 billion reais related to the sale of the hypermarket chain. Extra for the assaí.
The amounts refer to receivables dated to 2023 and 2024 and which will be advanced in up to three installments in this third quarter, informed GPA in a material fact.
GPA estimated that values should reduce its financial leverage by around 0.8x, falling from 1.9x to 1.1x.
Of the total value of the sale of up to 70 Extra hypermarkets, a deal valued at BRL 5.2 billion, BRL 1.2 billion referring to the sale of 17 owned properties has already been received.
Names of financial institutions involved in the transaction were not disclosed.
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Source: Moneytimes
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