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Extra properties, from GPA that would go to the real estate fund go to the Singapore fund
02/24/2022
GPA should announce to the market that GIC, Singapore's sovereign wealth fund, will be the buyer of the 17 properties of the Extra hypermarkets that are part of a divestment plan, as informed by the group in October.
The properties are being negotiated for R$ 1.2 billion with the real estate fund of SuccesPar Varejo. The transaction was completed directly with the GIC for the same amount recently. The Singapore fund will use the same mechanism created and linked to Barzel Properties, a real estate investment company controlled by GIC.
Source: Valor Econômico
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