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The Company celebrated a Sale and Leaseback transaction, by signing a Private Agreement of
Commitment to Purchase and Sell Real Estate for Subsequent Lease and Other Covenants
(“Agreement”), with the purpose of selling 11 GPA supermarket stores to a private fund, each
consisting of one or more properties duly identified in the Agreement (“Stores”), for the total
value of R$ 330 million, observed that, following its formalization, the parties will enter into
lease agreements for each one of the properties comprising the Stores, according to the draft
attached to the Agreement (“Lease Agreements”).
The Lease Agreements shall have an initial term of 15 years, with the exception of 3 Stores that
shall have an initial term of 18 years, renewable for an additional term of the same respective
period, ensuring the continuity of GPA's operations at the Stores in sustainable financial
conditions, with a cap rate of less than 9%.
The operation is part of the plan to reduce the Company's financial leverage throughout 2023
and 2024, contributing to the reduction of the net debt and reinforcement of its capital structure.
Within the context of the leverage reduction plan, the Company expects to: (i) complete the
sale of non-core assets; (ii) implement operational improvements aiming to achieve the adjusted
EBITDA margin target of 8% to 9% in 2024, as per the projection disclosed on the material
fact published on December 7, 2022; (iii) reduction on excessive stores’ inventory; and (iv) sell
its remaining stake in Grupo Éxito's after the ongoing segregation process.
GPA will keep the market and its shareholders informed of any new information on the matter.